This states how the assets are to be valued and the rights of either party to exercise the right to buy out the other partner under certain events.   

As an academic exercise, put together a spreadsheet listing all the RE investors in this post https://www.biggerpockets.com/forums/55/topics/799... and determine the percentage that have at least one degree versus those without a college education.  

Failure to do so can result in forced insurance and possibly exercising the due on sale clause contained in the Deed of trust

Setting goals is a interesting exercise.

I have been reading a lot here about what to include in lease agreements, and like the idea of setting expectations up front to tenants and exercising consistency with the rules.  

@Frank Chin  option money is tax deferred.. if the option Is not exercised and the transaction terminated the option money becomes ordinary income.

Hello BiggerPockets Colleagues,Does anyone have a sample of a "Letter to Exercise Real Estate Purchase Option"?

I agree Jay that it is rather a lengthy piece of information but the premise is of course "predator lending" this is just feedback to allow other's to exercise and prepare for unethical business practices specifically to doing one's financial due diligence such that this is an illustration of caveat emptor or let the buyer beware to prevent fraud from manifesting as a reality with no recourse for action. 

From what I know of WI law (haven't had to exercise this yet) if they don't move out on either the termination of their lease or the date of their notice to vacate you then have to go through the normal process of evicting them.

This little research exercise will give you an idea of what land trusts can do for you.