Think of those hours every day you could be networking, exploring properties, going to real estate investor club meetings, dating, exercising...Find a CHEAP rental though - get a roommate even. 

Option 1: Offer to the seller a Lease option on the new home until you sell your current home at which time you can exercise the option to buy the 2nd. 

It’s a great way to learn more while doing other things such as exercising, driving, etc.Get involved with a local REIA groups.

I also purchased some bank notes several years ago and got a great rate on them, right up until the bank exercised their right to re-purchase them (as per the small print) and I got hit with capital gains that year as well as scrambling to find somewhere else to put the funds.  

If they decide to not buy the home I will exercise my option and either rent it or sell to someone else on land contract.While it's not a hugely profitable deal, it feels great to create a new cash flow from nothing.

Another thought-- As a renter, they can value their time just like you do, and if you show them a nickle-dime price sheet, you can actually INDUCE them to leave it all up to you to do.  

If the tenant buyer decides to exercise their option do I exercise mine and what does that look like.  

Don't want another commute once I get here.Want neighborhood/condo/townhouse community to not have crime issues, and would be nice if it had exercise amenities (but lots of gyms nearby, so probably just as easy to join one of them)Price <$125KWill be looking to make an offer in March-AprilI appreciate any advice on neighborhoods/communities to look for that would fit some/most/all of these goals!

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.