If you don't have a written lease from the purchase I'd check out your local and state agencies for advice on what the law is in the state in addition to consulting with an attorney.For example, where I am (St Louis, MO) the city has a "landlord's guide"https://www.stlouis-mo.gov/government/departments/...which includes things like sample applications, information on the eviction process, and citations to the state landlord tenant law.The Attorney General puts out a state guide on Landlord Tenant lawhttps://www.ago.mo.gov/docs/default-source/publica... though an attorney would be the most helpful when it comes to knowing what paper trail you need to create.  

I've heard that if you transfer ownership (in this case from me to the new LLC), that the mortgage company could exercise the due-on-sale clause?

Frias has a Bachelor’s of Science degree in Exercise Physiology from the University of North Texas.

These freelancers can provide samples of their work on their profiles or website.

Message me if you would like some sample investment opportunities. 

The rule is that the replacement property needs to be equal or greater value.So thanks to an old IRS 1031 rule, you can sell your old properties without paying capital gains if you exercise the 1031 and follow their rules.

If that's the case, the entire amount paid before exercising the option could be applied toward the purchase, which would obviously be a great deal if your alternative was a hard money loan or other high interest rate loan.

Even if you don't end up buying the place, I think doing this analysis, playing with the numbers, and seeing where and when your profits come will be a good exercise and inform your investment strategy.So, no I don't think that 70 would be low ball at all if these numbers are correct considering the work you'd be putting in and risk.

I'm available to discuss and email you sample of Listings I would suggest.

That will be my built-in appreciation when the Buyer exercises his or her option.