You otherwise need to make sure you document the comings-and-goings of this person in case you get pushed into court.Courts could lean in favor of the tenant exercising normal day-to-day living.

They moved title without my permission so I could exercise DOS if I wanted to, but I don't want to, I like the income, I understand rehabbers sometimes need a little room to maneuver.Having said that, I'm not real happy about the change in title and for that reason and a couple others I probably won't be lending to this guy again.My real concern was with regard to my business purpose loan becoming a consumer loan since title went from an LLC to an individual.

At the time you specify the option is to be exercised, your option payment would go toward the agreed purchase price.

The unlicensed assistant may exercise no discretion over the language used to complete the blanks on a rental agreement, but may only write words dictated by the property owner, designated broker, or managing broker.Provide information about rental units, leases, lease applications, security deposits, and rental amounts to prospective tenants.Assist in property management functions by carrying out administrative, clerical, financial, or maintenance tasks.Unlicensed assistants may NOT… Advertise that they are engaged in the property management business.Hold trust funds.

Good exercise to work through some deals, but this is not a sales job. 

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Nice exercise anyway.  

From other threads I've read, wouldn't you be effectively only LEASING the property until you can exercise your OPTION to buy (at which time you would have to come up with actual funds)?

The new controls prevent the lender from exercising any influence over the appraiser or even speaking with them.

This way you will still own the property in case Gertrude defaults, you can take her down in the form of a 'option' fee and still determine price, payment and interest and if Gertrude doesn't exercise within the 2 years you keep her 'option' money and do it over again with someone else.