Sorry about the title I tried to summarize what I'm seeking.

I will summarize in this email but I have attached the detailed formulas for you to look at.

So, to summarize, and make sure I'm following correctly, the above price would look like:- Property appraised/valued at $200k- Strike price to TB at $194k (200 less 3%)- Nonrefundable option consideration to investor of $6k- Rents at agreed amountMy questions would be:- Where are the "rent credits towards closing costs/sellers concessions" coming from?

And that's even if it's legal in your state (I'm summarizing here for time).  

I just want to summarize this post with few good things touched on by Tony C, Tony C and others.Taking Action with a plan in hand is key.Don't tell me it can't be done...tell me how it can be donePeople will spreadsheet there way into fear and never pull the trigger.  

He has summarized his investment approach into five bullets, the first three of which are known for anyone who has attempted investment: hold on to your capital, create cash flow and, thereby, create wealth.

One of the quickest ways to summarize why a house languishes on the market can summed up as "the price is too high for the property's condition".Dunno if this helps ...

The Choice Act is summarized here

So, let me summarize for anyone viewing this later (some of this is from the above notes and some of this is from discussions with my tax advisor):  (1) It is best to get a contract when using a service provider; worst case, get a quote that include TAX ID, business name and business address (2) Always get a W9 when using a service provider; my advisor told me that you can probably get away without obtaining a W9 from a national provider like Home Depot, Sears Home, etc, but technically the IRS expects you to get the W9; the burden of proof lies with you to prove you did not need to send a 1099, so in the case of Home Depot, etc, it is highly unlikely the IRS would fine you for not sending a 1099.(3) Using the TAX ID and business name provided on the W9 or quote, perform "TIN Verification" to verify that the business name matches the Tax ID; this can be done for $1 using a web site called www.1099online.com - or use any service you like to do this(4) There is no need to issue a 1099 to a corporation or LLC;  You are allowed to send 1099s to corps and LLCs, but those organizations are allowed to toss them out(5) Whenever more than $600 is paid to a sole proprietor (i.e. a company that is not a corp or LLC) then the IRS requires that you issue a 1099 to that sole proprietor.  

I also send a cover letter that summarizes the documentation and the reason for the charges.In the end, none of it really matters.