I could not do this on the existing proposal.What did I learn from this exercise?

@Rick DiChristofaro sounds like a good exercise for someone learning to evaluate properties.

It's my exercise, Haha.

I spend one day on this and I get the commitment at the end of the day I have only had 2 people in 6 years come to Oregon for this exercise that decided not to move forward..

@Marc Winter when you say you have done several lease options but “never had one close” do you mean you never had the tenant actually exercise their option to purchase?

This isn't needed to setup your business but, looking back, I wish I had done this exercise when we setup and not wait till 2 months before tax filing date (March/April). 

If you feel I did not accurately represent the exercise, missed key points or costs, or left something out, please post a comment or write me.

Morning BP,I’m excited to say that I am approaching my first closing for a multi family property in Rhode Island.Its been a long road with lots of ‘cleaning my truck’ exercises along the way but here I am.

Even if so, if your exits are in place you can exercise them.Best of luck. 

The act of Buying the property comes when the Option is exercised, which is when the Purchase Agreement is signed.