The challenge I found is that with real estate it seems to be much more complicated than giving people encouragement and cheering for exercising.. 

Started working on the exercise above as well this morning.

I have sold some properties years ago on lease options where the tenant buyers actually exercise their right and purchased the property. ( I was in the deed.)The reason I am concerned to tie another person’s property up  with the lease option is that people can change their mind, as in the seller.  

If you have **no** savings to put toward the real estate venture I would exercise caution.

Do this exercise.  1.  

The exercise of underwriting helps you sift through those to find the 1 out of 10 that’s worth taking a closer look at.

We had 3 tenant buyers exercise their lease options in October.

I've done a lot of research and even worked on running numbers for certain options (just as an exercise), but I'm now looking forward to jumping in.

You are absolutely correct - I have never done this exercise. 

When you sell your old property you exercise your option and purchase the new property.4.