The penalties for doing it incorrectly could break you.Type "Dodd Frank" in the search bar on BP.  

Just check with your attorney to review contract(s)- Buyer gets a free "test drive" on the property, so they know the quirks of the house- Buyer can also use this as leverage and negotiating power over the course of the option- Buyer gets the privilege of the seller not being allowed to market the property (for sale or rent) by entering into an option agreement.  

So in Tabitha and my market ALL comparable properties are 9% cap rates.....well, unless we want to grossly overpay like you did.See how doing it incorrectly impacts your bottom line?

At least you already know about Baltimore's ground rent quirk.

Sometimes the initial recalculation is a bit premature or incorrect, and after following up the client will get a second, more accurate/permanent figure.

Sorry if the word was incorrect. 

There are usually little quirks that need to be worked out, that are hard to identify until someone is using the property everyday. 

It is common investor lingo, it's also incorrect to assume you reached any % of a "discount".What you're wanting is a distressed value and that come from either a distressed property, or distressed owner, or both. 

That's very incorrect everywhere.

That said do not give incorrect advice to people, I have to correct mistakes like yours far too regularly.