They Own it….that can conceivably close it off, tear it up, etc.  

It is conceivable that the deed has not conveyed to @Chad S.. 

"Whatever the mind can conceive and believe, the mind can achieve - Napoleon Hill". 

So many varied opinions pulling in every conceivable direction only adds to an already overwhelming decision and leads to the inevitable buyer thinking “am I making the right decision?

Since Fannie Mae limits an individual to 10 mortgages, a couple can conceivably have 20 mortgages.

This particular VA parcel... may be an ill-conceived local ordinance?

If you haven't done so already, check out the Beginner's Guide to Investing and listen to some of the Podcasts, both of them are filled with information on every conceivable niche.

Last point too, saying that an option price is money that can be kept can give investors a false impression of reality, I'll point to the FL case recently posted in the forums where the option was improperly conceived and therefore deemed not to be an option but an installment sale, the error caused the optionor (seller) to cough up that option price together with other sums to be paid back. 

So conceivably we can plan on making a purchase by March (?)

I have even heard of a complete entity being reclassified by the IRS as a dealer and therefore having to pay different taxes at higher levels.I bring this up here because it's conceivable that if a person held both flipping properties and long term rentals in a sole proprietor or in their personal name, because they were co-mingling property types, the IRS could then re-classify all your properties as dealer status and retroactively tax you at higher and different rates?