Not only do I love real estate, but I also love to golf, watch sports, exercise, get outside with my dog, and grab a bite to eat at local dives. 

@Todd Young, It's a very delicate gas pedal/brake pedal exercise and much really depend on your lendability and pace at which those current units will sell not to mention the availability for a building that you're looking for.From the sounds of it, Locating the building will be the toughest part. 

I wish I had gone through that^ exercise instead of buying a local duplex out here in California.

It is 100% a brain exercise and skill I plan on developing.

Here's a fun thought exercise.

Exercise living off 50% of your income, literally.

So with that our #1 remedy action has been to present tenant with a cash-4-keys option with the "information" (NOT threat) that "if" we can not reach a mutual agreement in cash-4-keys the landlord will be left with no other option than exercising last remaining remedy of civil suite for owed monies, legal costs and damages from breach of contract, receive and file judgement, and then all the following from that such as: judgement affect on credit report, wage garnishment, inability to receive loans or other housing due to impacts of judgement on record. 

Or, the T/B tries to exercise the option and the seller refuses.

It will be an awakening exercise.

When the buyer wants to actually buy the property, which is called "exercising the option", they do a normal purchase transaction to buy it from the landlord/seller.