Hello, We are under contract for $120,000 for a 4 unit, expecting $650/unit in rent. 

We  used a RE lawyer in our town to provide a buy sell contract to make sure things were in good order.

Otherwise whoever you sell to if they get sick they could come back and sue later on etc.Anyone can sue but they might actually have a case for concealment if you knew of the mold yet tried to repair it cheaply and improperly which caused them to become ill.No legal advice given.     

I have a small mobile home park under contract.

What's the legal procedure I could do that?  

Or if any entity is involved it would almost definitely be a different address for privacy and legal protections.  

Always do the math analysis on a prospective property and try to look at it of at least have a clause in the sales contract that allows you some time (about 15 days) to make a detailed inspection and possibly walk out of the deal without a penalty that will hurt you too much.The thing you also should do in the beginning is to have a Team put together that typically have an Attorney, real estate Agents, a CPA (or accountants), Inspectors, general Contractors, and Handymen.  

Looking for some feedback on structuring a partnership.I have a multi-use property under contract for $400,000 that will rent for $3,200 / month.I have fronted $3,000 of earnest money and will put my commission from the sale toward some modifications that will allow it to rent at $3,200.

My dad has a modular home under contract with a private motivated seller.It's under contract well below 50% ARV and is in good condition.  

On the legal side-If a contract is written up and the MLS states a fact about the house that isn't corrected or addressed you (if all paperwork is legal and properly done) can enforce those facts and have them completed by the seller and enforced by the court.