Thank you Ronald......You brought up many great points which I will have to research much more on. 

If sellers arent saying yes to you then it is your approach. 

This SFR was bought with cash and was wondering when the refinance step approaches, what is the best way to find the most beneficial percentage of being cashed out at?

Which is what brought up my concern. 

We had been looking for 2 years for a nice value add multifamily project here and a wholesaler brought one to us.

But it's another solid base hit and, in this market, I'm willing to take a turtle approach.

I like @Brandon Turner's approach which is buy a duplex and live in one unit (aka house hack!)

There was a key word I used that brought me to join Biggerpockets.

Tenants further waive any subrogation claim any of their insurers may have for collection of any losses paid to the Tenants.Finally, in further consideration of Landlord foregoing the installation of a keyed dead bolt device on the back door of the dwelling and for consenting to the Tenants installing a “doggy door” in the back door of the dwelling at the Tenant’s own cost, Tenants hereby agree to indemnify Landlord, its successors, agents and assigns for any and all claims, causes of action and damages which could be or are brought against Landlord, its successors, agents or assigns which are in any way related to the keyed dead bolt device on the back door of the dwelling not being installed or the installation of “doggy door” in the back door of the dwelling.Tenants shall provide Landlord proof of payment in full for the installation of the “doggy door” in the back door of the dwelling.Add a signature line and date – remember the lease should be entered into with the LLC as the landlord. 

Is the best approach to have a real estate attorney draw up the documents?