You have to exercise as much due diligence choosing viable mentors as you do purchasing your first investment.The very first principal they teach you when you are studying for your RE license is "REAL ESTATE IS LOCAL".

I live in Virginia and have the same question as Alexander.Based on what I read over the last week, without a land trust, if you simply move the rental property from your personal name into an LLC, the lender has the option to exercise the "due on sale clause" aka acceleration clause, making you pay the remaining balance in full immediately.

@Jay Hinrichs @Bill SargesonIf you either of you guys find yourselves around KGSO on a nice day I usually always have a few Columbia's that are just waiting to be "exercised"

And don't be afraid to exercise that "no" muscle. 

I at least garnered many contacts from that exercise.

My research indicates that it brings relatively little value for just one property, but maybe a worthwhile exercise for the future?

I find this tenant to be aggressive and believe his manner is intended to interfere with exercising my rights as a landlord.

If the T/B chooses to "exercise" the option before it expires, the option fee counts as a down payment.

Most lenders don't want to exercise their rights under these but they might if you push them.  

There are several ways to do creative financing in the playbook but you must exercise due diligence to protect yourself in the event there are liens on the property, etc.