The valuation is basically the present value of the income and/or expected appreciation of or from the property over the term of the option. 

NAR has an agreement with Move, Inc (now News Corp) and the realtor.com site to "...present basic MLS property listings to consumers on our web site and our mobile applications

And Kris, I'm basically looking for the paperwork process from a-z.

Also, if I leave my job, I believe the loan becomes due and if I don't pay it I believe I am subject to a 10 percent penalty as well as a the balance considered income and therefore taxable - basically an early withdrawal.

There is the concept (a very successful one) of inventory turn over, depreciation begins to wear out around 7 to 10 years, your assets have aged, hopefully appreciated and you sell and move on to homes that meet your requirements.

I have done 3 real estate flips and have recently purchased a lot for new construction so am basically a newbie but do have a couple successful deals under my belt

If your 1065 is done properly, the nature of the passive rental income will remain the same - no self employment tax.The concept of whether it's better to run it through an LLC vs keeping it in your own name is a topic that has been batted back and forth here on BP and elsewhere with no real conclusion.  

Hey @Ards Aram it might be ab it different bu the "concepts" are the same. :) 

The lack of basic legal knowledge and the ramifications of investor's in the unknown is par for the course. 

Learning from some of the greats like Elon Musk, Tai Lopez, Will Durant, and Warren Buffet I hope to bring some of the concepts into investing and apply them to real estate with your help.