This second statement allows me to accept partial rents without jeopardizing the validity of the eviction:"Any payment made AFTER the eviction paperwork (Summary Ejectment) has been filed will be applied to the arrears and does not waive the tenant’s breach for which the right of reentry is reserved and JBAC Properties, LLC’s exercise of such a provision does not constitute a violation of Chapter 75 of the General NC Statutes."

Although there are risks in all deals, having too many unknowns in a common agreement (ie: option price, date you can exercise the option), does not seem worth it. 

Haven't we gone through this exercise before?

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"?