I have never heard of right of redemption actually being exercised in Philadelphia and there are a lot of properties that are sold through the auction. 

We went through this exercise with an apartment building in Raleigh, and the installer provided us with multiple size/provisioning options.

Whether it was a 30 minute walk at the park, 1 hour of exercise etc.

To think we do not need, nor drive significant value from their lower labor costs is either willful ignorance or an exercise in absurdity.  

I have also heard that something like 90%+ of lease option buyers fail to exercise the option and get a loan to eventually buy the property.  

ok, so i opened the chase account about 2 weeks ago.1. chase has a check deposit through the phone limit of 2k at the beginning. but then that increases to 10k for business accounts, i believe. i was told it takes around 60 days. i never need more than 3k per month to deposit via phone app2. chase wont work for security deposit MOVE IN. their limit for ANYONE paying you is 2k. so, if 1.5x rent is greater than 2k, they have to give you a cashier's check/money order. i wish that would change3. so far, i like it a lot. there are limits, but even with our 30, i think we can make it work.we created a "welcome to chase quickpay" letter, which will be sent out to our tenants. it's more work on our part, but worth it.i took about a week to transfer all current payments away from the bank i use now and CHASE. i want chase to be my main bank for everything in the future. let's hope i dont have to go through this painful exercise again in 12 months.

@Walt Payne , clever: 'settle for that $50k'.Not settling, just pointing out the very favorable tax treatment of the first 50k, but I'll have to admit, what 50k is first is really an exercise in mental accounting.  

Granted, this probably is outside the purview of your intial question, but I like the think exercise :)

You are paid at assignment and you are out of the deal.The new Optionee, your assignee, now exercises the Option, signs the PSA as the buyer, and closes the deal.

Right now he works on his home for his exercise.