So to answer the person above me and the OP.The period or the clause where you can walk away is NOT there  as  a fail safe for your incompitence as a wholesaler.You cna walk away if something happenes beyond your control that nmakes the deal a bad deal.If lightning strikes and the hosue burns down, you walk away.If an inpection showed a crumbling foundation, or termites and the seller doesn't want to renegotiate.. you walk away.See mmy point?

I'm used to it being in sellers control for the most part. 

unless you are in a rent controlled area or subject to other limitations, your rent should be at market. if someone has been there 15 years, be prepared to put some money into it but it'll more than pay for itself over the long term once you are at market.

Returns can be better and more stable than stock / bond investing and the sponsors have a much higher level of control over the outcome of the project (and therefore the returns investors receive) than anyone can get from investing in the stock market. 

I live in the Bay Area (CA) - I would be extremely cautious buying income properties in a city where there are strong tenant laws in place, eviction controls, rent control etc.

I must say, however, "rent control" is fascinating!

The challenge with a BRRRR is that the cash out refinance is never in your control so the cash flow can change a lot depending on what the property appraises and what interest rates you can get

We control all our dates would never trust and attorney to do this unless its some big commerical deal.. they are too busy for this type of stuff this is what agents get paid for. 

Hi Frank,Unless the rental is under some kind of government controlled you must pay the water laws (some areas have these),another option might be to ask for the difference plus a $10 PITA fee every month.$50 in water = $60 extra...Like if they had an argument about dinner and slammed a kitchen cabinet door and broke it...

To demonstrate my technical competence, for my personal house I built a steam shower, installed radiant barriers with rock wool, and a wood stove insert with bathroom radiant heated floors and re-designed radiant floor heat zones, cutting winter energy consumption to 1/8, installed a whole house fan cutting summer energy to 1/2, extensive localized landscaping leading to a reduction to 1/8 the yard work, plus random quality of life improvements like wifi switches, heated floors and toilet seats, skylight install, exposed structural beams, and master bedroom laundry including electrical and plumbing, cathedral ceilings with skylights, a steam shower with wifi controllable lighting and music, concrete countertops, etc.