You can assign the contract, if it doesn't prohibit it, or you'll need an addendum executed by all parties.

If you can make the bottom a Short Term Rental (executive rental, AirB'nB) it might make sense even at $750k.

I'm also employed full time as a marketing executive in the medical device industry; real estate is a passion and pursuit but isn't my j-o-b.Near my investment properties is a 37-unit  with paved off-street parking lot, combined with a few rental houses that are adjacent to it.

Consider including language in the contract that states additional scope will not executed without an approved change order.

Rejecting Kentucky's defense of its turf laws on consumer protection grounds, the court noted that "the complete exclusion of a buyer's broker from the transaction may well render the foreign buyer/lessee more vulnerable to fraud.

If you don't have all of that in order, you are better off keeping what you have for a deposit and be glad she is gone.Once you have the judgement/execution for the back rent (and security deposit money if you go after it) you can sue in small claims court and petition the court to garnish the tenants wages.

My full time career is as an executive chef for a semi-private golf club in New Jersey.

@Brian Gibbons What kind of timelines do you usually recommend to execute the option?

You can ask for a recomendation on BPAssignment contract is used when you have an executed contract between you (buyer) and seller and you sell you rights of the contract to the end buyer.

I have done this with 11 different properties (with 11 different lenders)  11 different times and have never once had a lender execute the DOS clause.