Still a newbie, but wanted to obtain my real estate license while I learn more.I work full-time at nights so my ideal schedule is during the day.

The odd and costly repairs, The mean spirited tenants and they were professionals, not from across the tracks by the river, snow removals, parking in unrealistic places, they adopted dogs that caused disturbances and turds, Just to name a few.

Instead, it is much better to roll up your sleeves, and diligently hunt for the right deal, be highly selective to make sure you buy a great deal, force appreciation if at all possible, and get in such that you can stay in through thick and thin if you need or choose to ... this will open up multiple exits and tilt the odds in your favor ... heads you win big, tails you win a little, but the house always wins and you're the house ... if you are unable to stack the deck in your favor then the best thing to do is not play the game until you learn enough to from those that do ... people sometimes say that going for appreciation is speculation and if you get it it is only because you are lucky ...

Ideally transfer the money into a different financial institution from that account.

Of course none of this means A will happen as a result of B but if your a betting person, and we are, the odds look good that jr lien position non-performing notes will be in supply. 

It would be a good ideal to paint all treated areas with a stain blocking primer including the wood members, studs and sub-flooring if affected.

Could anyone also comment on what an ideal contract in this scenario should look like? 

It might strike them as odd, but they are proposing to eventually become a 50/50 partner in one of your businesses ...

They seemed ideal, they paid rent early and kept the place reasonably clean. 

Ideally you can show to everyone that request a showing.