The list isn't important anyway.B - The process you are following, doing what I am assuming is a Sandwich Lease Option is as follows:   1 - Gain control of the property by signing a lease agreement, and an Option agreement (they are 2 separate agreements, and should NEVER be a single agreement...and never include references from one to the other) in the name of an LLC (you).   2 - Sub lease to the tenant (buyer).   3 - Sell an Option on your LLC to the Tenant/Buyer.   4 - When the Tenant/Buyer exercises their Option, they are buying the LLC.   5 - The Tenant/Buyer now owns the LLC, and all its assets...which include the Option to buy the property.   6 - In the end, the Seller never changes, and the buyer never changes. 

You don't own it or have to worry about their mortgage unless you plan to exercise the option and buy the property.

As an educational exercise, I went to the courthouse and had them pull files of others who had petitioned for a tax deed.

Consider being a $60k-$120k worker for Amazon there and then run through the "drive till you qualify" exercise.

As an exercise, I think you should run your numbers with more conservative estImates and see if the deal still holds up.

My goal for next year is to try and get involved in the chamber or at least put my .02 on development etc - whomever the city and county planners for the past 2-3 decades have been should be crucified and never allowed to work in those roles again. 

The leases I had includes the option, no time limit, and no specific purchase price.So somewhere along the line, the tenant notifies you he will exercise his option to buy.As to why, plenty of reasons.

Just notify them, per the terms of the lease of course (ours is 30 days notice on month-to-month contracts), that you are exercising your option to terminate the lease. 

They spent $40k on renovations I'm assuming the driveway and garage played a huge role here.

At the end of the term they exercise their option agreement, execute an agreement of purchase, get approved for a mortgage and take title of the property.Make sure you work with an experienced mortgage broker and lawyer to make sure you do things right for your area.