The heater is in a heater closet with the cold air intake under it opening up into the bottom of the furnace.

This community has opened my eyes over the last 4+ years, when my friend Matt Stupar first exposed me to it.I was planning to purchase real estate before finding out about BP, and I believe that BP expedited my knowledge intake by many years and I am forever grateful.I look forward to continuing my part in this community, as well as making as many friends as possible. 

If you can find a duplex or triplex or 4 plex that you would like to live in, take advantage of the owner occupy financing.  

I feel confident in taking the next step which is using the capitol Ive saved to fund my first fix and flip.

If no one is interested in taking over your position in the contract, then terminate it while in the OPTION period and all it cost u was $100....but if the deal is good, $100 risk is nothing compared to the reward.But to your original question "option vs. deposit" is the same thing.

I'm really interested in taking this property on as my first deal, but I'm really struggling with defining my terms for how I need the property to perform financially.

As a business do you value property appreciation or monthly rent intake more?

That's what I do ;-)I have managed a bunch of small multis in town, though not interested in taking on more of them unless they are actually being improved.

Good luck to you in taking the first steps. 

That will probably go against what many others will tell you, and maybe they are right in taking more risks.