I used to be a credit manager and go around the country picking them up from major customers.Here is a sample of what one looks like: Personal guarantyIt ranges from a limited and conditional to unlimited and unconditional. 

Not only does it help in dealing with banks, but it's also a great exercise to keep track of your financial health. 

The best way to approach a private lender is to have either a real deal or a sample deal to show them with numbers calculated. 

You laid out the pro/con of each approach in your post, so I would take it one step further and do this exercise with your dad:Sit down for 30 minutes and ask, where do we want to be in 3yrs, 5yrs? 

Be careful Not to Order  "Sample Book" for $29.00 but that would be useless; as it is not complete.2b.

Although there was no elevated humidity or surface areas affected with mold, several of the air samples came back with very elevated levels.Almost immediately upon receiving this notice we offered to let them break their lease without penalty.

So this is not enough sample for me to categorize this tenant as high maintenance. 

If my tennant buyer would like to exercise option to buy what is the next step I should do?

Purchase price: $114,000 Cash invested: $4,500 Sale price: $142,000 Lived in the home for first 2 years of ownership and then lease optioned it to another family on a 3 year lease term with an option to exercise purchase at the end of the term.

They exercised their option to purchase and we assisted with their down payment and they got approved.