Originally posted by @Mike Dymski:Done properly, neither are risky.And proper appreciation plays account for potential short-term declines in value.Forced appreciation is excellent risk mitigation for both strategies.Forced appreciation defintely is the least risky, also good practice to master so you can get better at your craft. 

Hi All,I'm of course working with my counsel on crafting something unique to my situation but I wanted to see if anyone would be willing to share a copy of their master lease agreement that includes a purchase option?

Each one needs to be uniquely crafted.

You'll find this particularly important if you have a limited number of properties, and collecting payments on time is crucial to maintaining your cash flow.Marketing and advertising your property: Through long experience, a property manager will know exactly where to market your property and how to craft compelling advertising materials---a significant advantage when it comes to filling your properties quickly and avoiding long vacancies.Finding the right tenants: Experienced property managers are experts at finding good tenants, and will take care of all the details, including the securing all criminal background and security checks, running credit reports, verifying employment, and collecting previous landlord references.Managing tenants: In addition to finding good tenants, a property management company will manage all aspects of the tenant-landlord relationship.

When the situation is complicated with several moving parts and things go south, a well crafted document will save you and be worth the money you paid for it.At minimum, you'll need a Note and a Deed of Trust or Mortgage depending on what state the property is in.

I would not sign loan documents and I would maintain control of the operations should things go sideways through a meticulous operating agreement.

We have renovated his houses and even though it was hard work, I loved the feeling of looking at our craft after it was finished. 

But, I'm also pretty meticulous when it comes to organization, accounting, and keeping proper reserves for each unit.I'd say if you don't have any monthly service fees on the account and can sacrifice an hour at the bank setting up multiple accounts, why not?

Be meticulous here so they can't say you were unreachable/unresponsive.

Even if you're meticulous, when you have a few properties, you'll probably be more involved.