I earned a graduate degree from The Ohio State University and am a big Buckeye fan!

The problem here was a couple fold.1) The city was looking a higher foreclosure rate on top of a higher rate of abandoned and dangerous properties. 2) My university was looking at a housing shortage starting in a few years. 

I mostly look in the university areas for these types of properties, but I keep finding deals on the outskirts of town and I'm a little leary that I may have trouble filling these units! 

.- Don't get all wrapped up in the LLC language, I was trying to read and understand all that lawyer talk and my head started to spin.

For example, I just put a 5 unit complex under contract that brings in $850 in rent per unit, my renter base is strong and reliable, I can count on the University, Military Base, and Oil works to bring home the bacon (Always willing to assign it).

The commitment letter had the following language;Transfers/Assumability: Subject to Lender’s then-current underwriting requirements and compliance with the other requirements of the loan documents, the Loan is assumable by a qualified transferee of the Property for a fee of 1.00000%of the unpaid principal balance of the Loan at the time of such a transfer (a “Consented Transfer”).My question relates to the terms of the loan and savings to the buyer.

Also there's a medical school to a major university in the same vicinity.

@Edison Nunez, Your using the right language. 

Option - In legal language, a real estate option is an agreement that grants the party owning the option, the optionee, the exclusive, unrestricted, and irrevocable right to purchase property from the party selling the option, the optionor, during the specified period of time that the option is in effect.I'm wondering if it is possible to control a house using an option to purchase in order to renovate the property (fix and flip) without actually buying the assett with a HML. 

You can find a lot of helpful stuff other members have provided for you.I just modified it (as many others have) for my personal preferences.Hope this helps.I just downloaded the spreadsheet but it's a foreign language to me.