If so I would consider approaching the Eng Dept at a local college or University for a class exercise estimate. 

I'm running this exercise in my head and so far, I can imagine a pretty linear payoff within a certain size range.

I want to know, is it better to try to lease this property to one of the tenants in hopes they will exercise their option to buy it or is it better to just rent the property out?

At this point I know it's really more of an exercise than anything, so I'm looking to learn all that I can.

I find it to be great exercise to run through examples and questions and learn from actual scenarios other investors are asking about.

RTO = = "Lease with option to buy", so until you exercise your option AND actually close the sale, you collect nothing.

Seller agrees to notify Buyer in writing of any Defect which Seller becomes aware of after Seller's granting of, but prior to Buyer's exercise of this Option. which is materially inconsistent with the above representations.

Condition of forfeiture; right to cure A purchaser's right to exercise an option to purchase property under an option contract cannot be forfeited unless a breach has occurred in one...

Ok... but wouldn't the commission of 6% only work if the option was exercised?  

Its cheap, you get alot of information as well as exercise!