I'd recommend the exercise to anyone.

I thought the case studies were useful exercises in cementing the ideas that Gallinelli taught in the book.

As a n exercise, you can look up recorded (all (M)LO must be by law) documents for (M)LO in the county you plan to invest.

We're to the point of exercising the option now, but the title company wants a letter from my bank (I still have a mortgage), stating that they're ok with this wrap. 

If they want to restrict my rights as a property owner, they will do so, but I will always find a way to exercise my rights and go to court fighting it. 

Or if they don’t have the money to take care of a serious problem that could end up costing you a lot of money, you may want to step in and take care of the situation to protect your asset because, at the end of the day, it is still your asset until they exercise their option to buy it.

With vacation rentals (especially in upscale, high-revenue areas on the beach) amenities such as pools, lazy rivers, landscaped grounds, exercise areas, etc are key in attracting year-round visitors.

Land is always money draining exercise since no cash flow and only cash out. 

The extra year can be used to dispose house if they don't exercise option.

Once the option is exercised, the current home owner is no longer the home owner, and the lease is gone.