Can you think of any other asset class that can obtain infinite return from appreciation?  

Obtain estimates for planned renovations and confirm if the allocated budget is sufficient.

However, an option holder won’t be able to stop a private sale from occurring (unless they find out about it before hand and obtain an injunction); the option holder would most likely need to initiate legal action after the fact. 

The uninformed will fall victim for sure.Lenders of all types should require title insurance and also obtain Insured Closing Protection Letters -- the validity of which can be independently verified.

Will I be stuck with a home in which I will need to obtain permits for this past work ?

I achieved this by obtaining my license, which allowed me to broker deals until I saved enough money to purchase another property.Furthermore, you may want to partner with others.

@Jackie Liu you probably have enough info to deny their application, but if you want to continue to try to approve:1) Ask applicant for copies of their lease(s) to support they've been there for 4 years and who PMC is.2) Get 2023 W-2 to see what address is on it3) Ask them to obtain and provide you with their FULL electricity account history.

You are responsible for obtaining your own casualty and liability insurance. 

If you get 3 bids and for easy numbers sake lets' say you get $3k, $4k, and $5k as the bids, but choose to go with the lowest bid and then tell him you want to buy the materials to save the money yet that's where he's cutting his costs to obtain your business you're still kind of cutting off your own hand despite your face right?

A short sale is basically a pre-foreclosed property, and the sellers Broker can walk them through obtaining a short sale approval with their financial investor/mortgage company… the seller is not liable for paying the broker or any additional debt that has been agreed upon by their investor/mortgage company, including the Broker’s commission.