It is a good learning exercise to help you understand analyzing properties from different perspectives.

The employing broker is responsible for maintaining all trust accounts and all transaction records, and the employing broker is responsible for exercising authority, direction and control over the Broker’s conformance to statutes and Commission rules (Rules E-29 and E- 30).

Do you have to go the full 5 years before you exercise your purchase option, or can you execute the purchase at any time you desire within the 5 year period?

It is a one time fee usually equivalent to 2 months rent and by paying said fee they are let out of the lease, but they need to give you 30-45 days notice they will be exercising that option.It just helps for when situations like this come up, takes the emotion out of it.

We went through an exercise at the Boise Investor Group meeting one evening a few months ago, using a house hacking example, which illustrated for the market at that time, building was less expensive than buying an existing investment property.

**I have read that "due on sale" clauses are always present in financing but seldom exercised on performing notes...does a lease option side step that as well?

Cash flow is $200 a monthWhen option is exercised in 5-years total profit 62k split with partner.In this example we used the strategies of working with a wholesaler, hard money lender, the BRRR strategy, and Lease option.  

I would exercise caution in buying in areas that are occupied mostly by tenants, as those usually are the areas that could lose a higher % of tenants and have the possibility of lowering rents.The last downturn has displaced a lot of people through a high amount of landlords going through foreclosure.

Paul provided much more than that from great RE / business tips to mindfulness exercises  .

Default statement saying any breach false information will give the tenant the right to terminate lease evict the tenant and regain property without any specific time just in general.Stating he will take legal action and he will have the right to perform actions stated in number three are nrights that he does has according to VRLTA because thats as specific as he explained it.on the lease therefore I don't think he made it clear that he is going to exercise his rights different to VRLTA so that is not an opt out even though he stated that his rights in the agreement are cummulative to the law.