It is somewhat common that an association may have the right of first refusal, even though it is rarely exercised, but not so common for the other unit owners.

Will you keep it as a rental for just the next 3 years since the tenants could exercise their option at that point?

After that year, I would exercise my option to buy and purchase the home for the remaining balance.I understand this is all subject to the terms I can negotiate with the seller.I'm looking for any feedback.

Both M(3) and B(0) still have a right of redemption subject to the time defined by law they can exercise said right.Sometimes, M(2) can call for M(1) to be a necessary joined party so the balance due is officially calculated by court or trustee.

Are you saying that even the option consideration, which applies to the purchase price if the option is exercised, should be totally avoided?

The flips are addictive though so I will have to exercise the restraint needed to hold and rent a few.For the locals I am on the Clearlake side of Houston.Thanks

Most likely the daughter is not giving you the whole story, and finding and approaching the brothers would be an exercise in futility.

No one has ever exercised that right so far.

Each day seemed to reveal new lows and ever-uglier legal problems as new government agencies weighed in and exercised their authority.

For fun/exercise I might fix up a single run-down property at a time myself to either hold or flip.