This hides the owner so that if you get sued by one tenant they don't know about your other properties.Lawyers are usually working on contingency so they go after low hanging fruit.

The “agreement” he sent me is below (identifying details redacted):______________________RESIDENTIAL LEASE and OPTION TO PURCHASE AGREEMENTBUYER/TENANT: XXX Holdings, LLC Date: 2-16-2018SELLER/LANDLORD: XXXPROPERTY ADDRESS: XXXXXXRESIDENTIAL LEASE1) Rent: $2,500 per month2) Lease Term: 36 months, beginning March 16, 2018 and ending March 16, 2021.3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs ofthe property, not to exceed $500 per incident.4) Sub-Lease: Buyer/Tenant has the right to sub-lease this property with writtenconsent by the Seller / Landlord, and this shall not be unreasonably withheld.OPTION to PURCHASE1) Purchase Price: $ 345,0002) Option Period: 36 months, beginning March 16, 2018 and ending March 16,2021.3) Option Consideration: $100 - All Option Consideration will be credited in fulltoward the purchase of the property.4) Rent Credit: Buyer/Tenant will be credited $ 0 per month toward the purchase.5) Closing Costs: Purchaser will pay all allowable closing costs.6) Expiration: This offer shall expire on March 16, 2021.7) Inspection: This offer is contingent upon physical inspection of property andsubsequent completion of a more formal and signed Residential Lease with Optionto Purchase Agreement.8) Non-Exclusive – This agreement is non-exclusive and can be canceled anytimeby either party.9) Assignable – This Agreement is assignable with written consent by the Seller /Landlord, and this shall not be unreasonably withheld.X_____________________________ X ________________________________Seller/Landlord Date Buyer/Tenant Date_________________I have a few questions: Is this legit?

We wrote in the contract that the sale would be contingent on an appraisal and I may have to accept their offer to find out what the property is worth. 

I was going to go in with a lower cash offer with no contingencies because of how long its been on the market, and the repairs/updates needed. 

I finally made an offer on a property this month and am in the last days of my inspection contingency.

You can write in any contingency you want.

From what I've read you can do reverse 1031's, you can put that 22 unit under contract and put a contingency in there that you need to sell  your units, you can pull a line of credit on your current portfolio...I think you have a lot of options.

A finance contingency, and Earnest Money Down non-refundable after DD is completed are typical.  

If we were to win a bid is there any contingency period to check title to make sure we are not taking in any crazy liens. 

A cash deal offers a quick close - I've done 7 days - no contingencies other that home inspection.