Quote from @Jerry Cox: Quote from @Michael Dumler: @Jerry Cox, be mindful of your dates and contingencies within the binding agreement if you go under contract.

You can also ask the title company to offeer a "lean Fee Sheet" meaning "Cut the fat" and reduce the BS fee's.  

Up until then I was cheerleading the earlier thought experiments about supporting lean/regular/fat income with ~$1000 / month per paid off SFH, thinking “I could bang that out in 5 years”.

The tenants in the 3 bedroom rental aren't in a protected class but I do not want to get in any kind of legal bind. 

They they get a big fat default judgement against you. 

If there are clear signs of negligence (kid throws down, paper towels, food, fats) then you can get the invoice from the plumber with the notes and present it to them. 

First, the tenants signed a legally binding contract and do not just get to walk away on a whim.

It does later say in the agreement that it is:"binding upon persons who own, lease, sublease, or occupy any parcel or portion thereof"The inclusion of which seems to imply that long term renting and/or subleasing would NOT be commercial use.I'm trying to figure out if I'm taking a significant risk buying this property for use as an STR.

Commitment Letter: A loan term sheet shows intent but isn’t binding so that brokers may see it as preliminary.

It binds the landlord, but honestly has little binding effect on a tenant when they simply choose to leave.