I have not gone any further to get more info yet; I would have to enter all my info. 

Too much work - I would only enter summary.

I'm entering my second year now on the property.

Back than people didn't know about "Child Abuse", which what I was doing would be consider today.If there is anything that has contributed to my success in the real estate business is my consistent marketing, direct mail, formal written letters (not on yellow line paper), professionally written with references and credentials.I believe in active marketing like, Farming --- after I got my real estate license I would select a neighborhood and walk and talk to everyone I would meet, I would enter every business that was open to the public, "Excuse me, do you know anyone who would be interested in buying or selling real estate.

I didn't initially know that, but why do we pay to enter if they sell us something?

you will want to refer back to this business plan in the future…..then, and only then, should you consider entering into a dealCap rate is net income (excluding debt service) divided by selling price.  

When entering into a real estate acquisition, an example of a sunk cost could be money spent on inspections or on other due diligence, time spent in analyzing the property, etc.

In our jurisdiction jury trial is not an option for civil cases like this.If you gave legal notice to enter, enter!  

@Marterio JonesWelcome to bigger pocketsIn Florida it's helpful to be a real estate agentThere are two strategies to look atOne is a lease option assignment where you enter into a lease and option with the seller, and then assign the deal for 3% of value or soTwo is a lease option sandwich where you lease-option from the seller and then sub lease and sub optionUnless you have three months expenses  of what you pay the seller, I wouldn't do the sandwich I would do the assignmentBe very careful what you call "paying Equity" you are leasing from the seller in a landlord-tenant relationship, paying market rent or more no lessThe option is a separate contract that gives you the right to buy from the seller,   then assigning that right to buy from you to the tenantIf you want some more detail into lease options, go to the search box and enter lease option Brian GibbonsBest of luck to you

Using the "Contract for Deed" wait 6 months or 1 year (depends on the specific loan to be used later, which you should identify before entering into the deal) to "season" your ownership.