A bankruptcy is the not end of the world but could definitely stop you dead in your tracks for executing a FC action.

Especially nowadays when execution should be more heavily weighed given the environment of many banks/lenders going under and/or radically changing terms. 

There CAN be tax advantages to these structures, but they must be formed and executed correctly.

(Obviously I would need this binding on successors and heirs.)My thought is that if the seller dies before I can execute my purchase option and the asset passes to the children (preferably through a trust to avoid probate delays), then they would have a stepped up basis and therefore avoid or minimize capital gains tax when I buy them out.Is this a feasible deal structure?

@Paul Vaughan you may hope that I'm wrong, but once you have an executed contract, no one else can come in and buy the property.

A lot of people approach this DIY style - but only a few have the knowledge to execute a good strategy that truly covers them.

I think just like anything in life its best to develop a backup plan or multiple plans to execute your goals.

The following pets are not allowed: snakes, frogs, spiders, ferrets or other exotic animals Resident(s) will be required to pay a security deposit at the time of lease execution in a minimum amount of one months rent unless otherwise stated or offered.

Good to have a structured way to pursue your goals, bounce ideas off others, and hopefully prod each other a bit to execute on our goals if we're not already surpassing them..

It also reinforces the necessity to work with either a mentor or an experienced syndicator while executing your first syndication to have someone experienced watch over your shoulder just in case.