I am new to this and had some fear behind making the mistake of locking myself into a deal where there was significantly more damage to the property then meets the eye.

You’ll need @Dave Foster  to clear up any mistakes I’ve made.

I did the same thing but once it's rented and my mistake are payed for will cash flow 1500 a month.

I ask because a lawyers office gave me a contract they used and it was 7 pages and i feel like i will make mistakes filling that out by myself at a clients house.

Will you leave a seller in a worse position because you made a mistake on your purchase price, can't actually close the deal and therefore have wasted a lot of time that may push the seller into the foreclosure they were hoping to avoid by contracting with you?

Ask for a reconsideration of value: 1. do not contact the appraiser directly, theyre not allowed to discuss the appraisal with you at all unless you ordered it directly from them but i assume you went through a bank. 2. not all appraisrs are great but theyre human and make mistakes, i work for the largest appraisal firm here and have for several appraisers, all i know WILL reconsider your value as long as you dont provide stupid comps meaning they fit criteria and arent outlandish.

I made enough of my own mistakes and everyone has different reasons for purchasing a property.

My thought process was always that in the beginning I was most susceptible to making mistakes and so if I was going to make mistakes I wanted it to be a small ones. 

My mistake.

A stable rental history with provable income sources is what drives our decisions, much more than past mistakes.