The contract shouldn't affect your basis, that will be based on what you pay for the property (unless there's some money changing hands outside of closing, which probably wouldn't be documented in the first place).

It will be highly ineffective. 

You will need to provide a notice of pay or quit and typically your lease allows you to apply late fees at that time. 

Average build time right now is 6-8 months.Your unit will be on Septic and Well.  

Seems they were attempting to draft from an old bank account. 

If it is something truly catastrophic, then owning a few extra properties will be lesser on my list of concerns. 

Without using a data site, this will give you a free and easy idea.But, why are you thinking STR and do you know what it takes to be successful with STR now?

Hello all,I am hunting for a property that will serve as a commercial kitchen business I want to start.

I am thinking about sending a carefully worded certified letter as my first attempt to contact them.  

Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too.