Of course we hope and plan for everything to run smoothly, but every now and then someone wants to exercise their option and this keeps you from paying for more than one appraisal.

You might think of taking a jog outside and, as you relax from the exercise, practice in your mind what you will say when you call these people.  

-enter into a lease with option, sublease the property during the lease period, exercise the option to buy, or-enter into a lease with option, live in the property for the term of the lease, exercise the option to buy?

This is a great exercise for newbies IMO.As much as deferred interest, neg-am and I/O options are very tempting and regardless of what our opinions are, I trust that you will come up with a win-win situation for both parties.

Without an accurate market cap, this whole exercise is pointless.

Again, this is not an exercise in which school can provide you a higher quality rather which school provides better marketing/networking opportunities.

so for this exercise it does not matter that I might have equity in an investment property or equity in my personal residences they all count the same for Net worth which is one of the major loan covenants one needs in my end of the business..  

This will be a good exercise. 

If you transfer your property (limited to residential 1 to 4 units) to a land trust where you are still the beneficiary, the Garn-St Germain act prohibits the exercise of the due on sale clause in regard to “A transfer into an inter-vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property.”Even if the case initially was brought due to an estate planning issue, there is no mention in the act about the need to be for estate planning, only that you are still the beneficiary.

They have the right to find a sublet tenant yet it's not mandatory to exercise that right.