I went through this exercise just a couple of weeks ago.

Account Closed, there are just so many ways to make money in real estate that it can be a worthwhile exercise to review some of the main strategies to see if you can find one that best fits your skills and investment objectives.

Either way, I'll go through this exercise and determine what I think the property is worth - I don't base my offer on the market average.TL;DR - This was a long read.

meditation and exercise ...how important is to your business.

And to exercise solid business practices and decisions that do not exploit the bottom line.  

Really lean into this exercise; does that picture include you living near loved ones, abroad, etc.

Hope you don't mind me trying to do an exercise here and come up with a more realistic ARV. 

Learning from my grandparents, by the time you hit your mid 70s, you struggle walking up the stairs, going to the grocery store is the only time you get of the house and get exercise, it's not safe for you to drive... the quality of life is horrible.

I guess the exercise for me here to was to see if it was even feasible to use the FHA loan in a creative way to cash flow in a hyper-competitive market like the Bay Area. 

You would have to exercise your option and get a loan on the house and pay off the underlying 1.5 million and then pocket the remainder.