If you'd like to go over this point-by-point as a buy-and-hold repair scenario for the experience, send me a PM with the address so I can check out the listing in Zillow and we'll do it as an exercise.

Tenant-buyer must exercise their option by day 180.2.

I think he will stay on until he physically can’t work anymore, so there would be a decently long transition period.

I have some medical conditions that will keep me from continuing that job long term as it is physically demanding. 

@Jerel Ehlert thanks for the insight that pretty much nails this down then and I have a full understanding thanks for the heads up it is actually a relief in knowing that I can just go on a month to month even though they marked those out and still exercise terminating the lease with the tenant upon notice.

Find a way to improve the physical property AND the operations to increase the revenue and decrease the expenses. 

I would physically take home ~$200 more per month after all payroll deductions.Should I wait another month for my income to increase prior to applying for a loan, or go ahead and get approved this week as planned?

Relax, you're fine.As with a trust, lenders do not exercise the "due on transfer/sale" clause when real property is transferred to the same individuals in an official capacity (e.g.

For example, if you split the difference as has been suggested, have the lease where they pay $2800 the first year and $2600 if they exercise the option.

Invested without physically seeing the property.