If it's not, my presumption would be that there is no "protection period" for you agent - unless CA law provides for a minimum period.It's better that you not end up finding out in court though.

While an LLC can lend money to its members, such action must be approved as set forth in the operating agreement and should be documented by a written note that pays adequate interest and is subject to commercially reasonable terms.These steps will also provide a better defense against other creditors attempting to pierce the LLC veil.

The agent that says he is in direct contact with the developer, yet has no listing agreement with him.

Would any of you happened to have a clause in your tenant lease agreements that automatically changes annual leases to month-to-month upon sale of the property?

If you list out what you want in the agreement I'm sure the folks of BP can better assist you. 

The agreement should say they have to leave the property in good condition.

You have covered your end of the lease agreement.

Rentometer.com is probably the minimum effort you should put into getting your estimated rents.

You probably know this already but just for the sake of anyone reading this thread who doesn't... regarding electrical: that 70A panel will need to be replaced, especially if it's Federal Pacific Electric (FPE) , Zinsco, GTE-Sylvania, Westinghouse, or contains any stab-loc breakers (usually with with red stickers) which fail to trip and are prone to starting fires. 70A is not enough for modern power consumption as it is, 100A is now the minimum per code, or even better upgrade to 150A or even 200A service since you have AC.

I am completely new to wholesaling and am trying to find the right purchase agreement form with an assignment clause to utilize for my deals.