For instance, if I was to have $35k earmarked for you to use as a sell option, that you can call anytime, up to some date - then I'd want maybe $200-300 in return. 

Each side adds their own addenda and that gets negotiated out between them.I had an instance a couple of months ago where the seller's attorney tried to sneak in a clause that said that the buyer was responsible for all liabilities (that means taxes, insurance, injuries on site, other liabilities, etc) from the time the P&S was signed. 

Depending on your jurisdiction, too - you may have to do substantial updates to structure to get it up to current building codes (for instance floor/ceiling joists etc)From what you've described of your experience, I'd think this is too much for you.

I have done deals for instance in Grand Junction CO  its not out of state and prices are about what you would pay for same quality in a lot of other markets.. so that's just one I know.The issue with those going out of state which is CODE for Mid west or deep south " cash flow markets" along with some rust belt cities.is investor shoot themselves in the foot so many times.. they set this goal of trying to make a certain COC return and that generally puts them in a higher risk asset and all the associated problems that come along with them and are magnified when you are out of state and busy.If you take any of the cities in the cash flow markets and determine the median price for a home in said market  for example Indy is about 135k  if you buy SFR at 135 to 150k those can and are safe investments as long as you go look at them and make sure they are sound.. what happens is investors especially reading the BRRRR stuff get sucked into buying 50 to 75k props and that moves you into higher or high risk areas and many times you will lose money on low end homes if you only own one .. you never get to scale like your dreaming of with BRRRR because the homes don't preform and you decide heck that did not work.. 

So say for instance within the next 4-5 years i get a decent amount of equity built up, i can open a HELOC with 80% LTV, and use that as a down payment for my next rental. my question is will the bank loan the rest without question (as long as my credit score is decent) for the next REI?

For instance, let say you have 200k Cash and ready to invest.

Maybe it is a choatic time in her life for only those two instances. 

I have no clue what they have put in place locally.For instance there is a Standard of Practice nationally that says:Standard of Practice 16-13All dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client’s representative or broker, and not with the client, except with the consent of the client’s representative or broker or except where such dealings are initiated by the client.If found to violate that they could face a fine of up to $10,000 depending on what side of the bad the hearing panel woke up on.

I have seen that in all my funding's all over the US>  But the values of end products are not going up at the same rate.. so something has to give and its the rehab budgets that are simply best wish's in many instances.. 

In the same instance I understand I have to take advantage of what I am presently faced with.