Thanks for the shout Junior. 

Andrew a quick clarification here....there are actually two related and distinct categories of units listed within City of SD; Companion units and Junior units....While the Junior units do require owner occupancy, the Companion units regs do not list that as being required.

If your bid was on a Junior lien, this gives you the chance to see that the more senior lien(s) won’t be getting paid - you don’t want to see that ;)

Less likely that a larger bank would take notice even if they have a provision prohibiting junior liens, as many of them do.

It is not uncommon for Realtor "Teams" to have a more senior member of the team to pass on leads to junior members.

Second there isn’t a chance a lender other than a clueless private fool gave the money for the junior 25% if they were fully informed. 

Wife has a masters in engineering, son is a junior at Florida State University studying to be a Material Chemist, and our daughter is sixteen in attending college full-time.

This method also allows you to do a friendly foreclosure in the event your property owner ever gets leins or judgments in junior position behind your option which protects both of you.Lastly, there are zero rules to how you structure the terms of the option, so as long as both parties agree it can be done.

Quote from @Junior Francica: Quote from @Douglas Skipworth: Quote from @V.G Jason: Memphis is trash.

He has been in college since he was a junior in high school.