I've seen and written buyouts where the preferred lenders can exercise an option to cash their stake after 90 or 180 days to get out of the property. 

Thus they don't exercise the option and leave the property and the owner finds another "rent to own" tenant and repeats the process.

But if you’re not willing to make CONSISTENT, TOUGH choices EVERYDAY (I.e Health, sleep, nutrition, exercise, etc) then all the RE books in the world don’t matter.

Your ideal tenant profile would be someone who doesn't mind not moving in for a while but would rather work on the property to fix it up and then complete the purchase by exercising the option.2.

In reality, the $100K is never going to be consumed because the RE will be positive cash flow, even using the conservative numbers I used for this exercise, prior to consuming the $100K.Tell you what. 

that is requiring me to estimate Capex (which for this exercise includes maintenance) across US cities.

Only the good tenants should be able to legally exercise their right for "lease for life," and because they are good tenants why would you want to get rid of them or why would a bank not want to finance a building filled with good tenants who take care of the property, follow the conditions of the lease, and pay on time?

Some examples of potential future drivers will be: something similar to what Bush did when he signed the American Dream Downpayment Act of 2003, China easing up on Capital Controls (this would be a great sign, but with trade war and China's issues with their own economy I seriously doubt this), IPOs over last 2 years creating much needed wealth for employees (takes 12-24 months for them to be able to exercise stock options), a dot com like bubble in the stock market (I think this is most likely scenario given stock buybacks and QE and I won't be surprised to see stocks doing something absolutely unbelievable over the next 1-5 years similar to 97-end of dot com bubble), or heavy doses of QE and easier access to credit for most people.Working in the Bay Area, we saw first hand how many buyers were foreign and how many paid for houses in cash without even looking at the homes in quite a few cases. 

Also, along with podcasts, listen to as many audiobooks as you can while you drive, work, exercise, etc so you can start to figure out what niche you'll want to focus on.

Some HOAs are rewriting their bylaws to prevent owners from exercising this option which can be much more lucrative than a long term lease.