Whether the EMD were delivered or not, they've inspected and decided to exercise the option to terminate the contract.

It sounds like you want to:1) Lease the cottage,2) Have an option contract on the entire property, and3) Use seller financing when you exercise the option (see https://www.biggerpockets.com/...)These are three distinct steps, but each of them is fairly straightforward and just requires you and the seller to agree to terms and sign a contract (1.

Once completed, exercise your option to buy it and then immediately put it on the market to sell.

If the terms of the sale as written in the contract are  defaulted, the seller may exercise his repossessory right6.

Let the results, good or bad, speak for themselves and teach.Don't Have a Scarcity MindsetKnow that when you invest your money, you are not limiting your income by exercising your savings.

Right now the house would not pass code in many respects, so it's nearly certain that some repairs would be deemed reasonable and reimbursable if the previous owner exercised his right of redemption.With that said, BRRRR is still on the table!

By doing the exercise in 1 above, these types of issues will pop out, so you can see them coming at you.7.  

The tenants can stay in the unit for as long as they would like subject to an annual rent increase of 1.5% provided the owner exercises that right.

By day I am a Digital Artist / Content Creator for a local children's T.V. channel and by night I am getting in my exercise chasing my little one around the house.I greatly look forward to connecting with you all!

Under a co-tenancy clause, a tenant may have the ability to exercise specific remedies if the property’s occupancy drops below a certain percentage or if an anchor tenant is no longer operating at the center.