If the tenants don't exercise, you got $12,000 in extra rent over 2.5 years....not bad!

@Kyle SkinnerIMO you should go through the exercise of organizing materials SKU # and laborprice per square foot or what ever measurement once.

Depends on who has the lien, of course, but many will play ball.  

@Matt Powell he will have the option to exercise and purchase for $60k anytime over the next 5 years.  

Originally posted by @Sam Ball:@Joe Villeneuve  could you name a few of those areas and also what type and size homes are you using to get $450 cash flow after exspenses?

NOTICE: If Landlord fails to repair a condition that materially affects the physical health or safety of an ordinary tenant as required by this lease or the Property Code, Tenant may be entitled to exercise remedies under §92.056 and §92.0561 of the Property Code.span>If Tenant follows the procedures under those sections, the following remedies may be available to Tenant: (1) terminate the lease and obtain an appropriate refund under §92.056(f); (2) have the condition repaired or remedied according to §92.0561; (3) deduct from the rent the cost of the repair or remedy according to §92.0561; and (4) obtain judicial remedies according to §92.0563.

When the tenant/buyer exercises the option, it becomes like any other purchase - they bring their earnest money to the table and go find financing for the rest.

(The whole exercise costs around $3k USD).Just wondering if anyone might have come across this type of roof, and could comment on what I should expect from it in the future.

Send me the address and I'll try to get you a ball park value.  

@Richard Ball, have you defined that your exit strategy is to flip?