I do understand that if I were to resell when the tenants are in place I would need to transfer the money, but I have some small maintenance items I want to address this month and instead of borrowing the money from my bank to make repairs can I use the last month rent money.  

I understand what you are saying @Wayne Brooks, I may need a letter of intent... which is better... but I'll just have to go meet them and give them my answer to purchase in a day of two while my applications are pending...I have no choice... 

I understand every area is different.

However, I am not sure if I understand you when you stated, "except the addition of the new basis".

These books teach you how to handle situations, how to find solutions based on your value system, set clear boundaries with people and overall understanding people's motivations and why they do what they do (which is extremely helpful in any interactions with people).

I'm trying to understand the legal jargon on my Rental Agreement so I know where I stand and have a basis for coming to a win/win agreement with them.

I feel like people that do FSBO are trying to save their profit which is understandable.

For example, I understand vacancy, repair, property management etc, are a certain percentage of the monthly rent.

The secret, is you must also understand exactly how money works, and the importance of how compounding works.There are three Modules you must design in your REI to take advantage of this type of funding.  

We begin to see families utilizing a higher percentage of their income to buy homes which is odd considering we are lending at lower rates and P & I rising.