In our state (NC) the “standard” Offer To Purchase and Contract form (NC Bar 2-T) supports seller financing via line 1(d) entitled BY SELLER FINANCING and the accompanying Loan Assumption Addendum Note though that virtually no NC brokers will entertain a lease with option to purchase deal because the old “standard” form for this kind of transaction is no longer available from the NC Bar, NC REC, or NCAR.

I am assuming the mortgage company will still pay the tax bill and I just received this bill as standard procedure from the county simply making me aware of the bill?

Give Ben Leybovich's blog post here a read, but even more so, read Brian Burkes comments on the blog.Your CAPEx reserve is not an operating expense, it is a reserve and is deducted from NOI.Instead of looking for a specific CAP rate which will get you in trouble, you should be carrying out a discounted cash flow analysis over your {initial} hold period and determine the IRR or MIRR ... use these to anchor your underwriting, then look at things like Cash-on-Cash return to help determine the composition (some might say, quality) of the return.Frank Gallnelli's "What Every Real Estate Investor Needs to Know About Cash Flow" is a good primer to get you started.  

My current insurance carrier is proposing the following deductibles with pricing. $5000 Deductible & 5% Hurricane Deductible $1011.00 $2500 Deductible & 10% Hurricane Deductible $920.00 $5000 Deductible & 10% Hurricane Deductible $900.00The house is 1413 SF built in 1988.

Take for instance, a fairly normal person who has a standard of living around $6000/month (before taxes).

If you bought one of those, I recommend lowering deductibles now and raising coverage to the limits! 

Does anyone have a sales contract that has a standard "out" clause  that they could share.Looking for something that is pretty simple to explain to a seller.Don't even need the whole contract really. 

(others $100k range) My gut offer was $80-90k....Do I deduct $$$ due to mortage owed?

Any depreciation deductions you took on previous tax returns (or were allowed to take, weather you took the deductions or not) will have to be recaptured (included as income) before figuring the capital gains tax or tax exclusion.

I've been wondering if it would make more sense to put a tankless water heater into a rental property as opposed to your standard traditional tank.