So I just got an executed contract, with 10 day inspection of course.Sarasota, FL - I'd say a B neighborhood a few blocks from Riverview HS...This is long distance as I live in NYC...$220k2 lots next to each other, each are .56 acres. 1 lot has 95 year old house about 1500sf living area, no garage, PLUS an efficiency unit, lol, 400sf.

@Michael O.I would say a C-class depending on the exact location. 

When you say a 25% return, let me make sure we are on the same page. 

You really have to review years of returns and financials to see how they are trending an what monthly rent they can support.Retail is generally 35% down especially since this is a 2 tenant property the underwriting from a lender is usually one tenant goes dark there is not enough rent to breakeven paying the mortgage like if you had say a 4 to 5 tenant center (usually 30% down).

Assuming Orange County is as you say, (as you would know real estate in the area much better than me) could you enlighten me onto some of the negatives associated with multi-family and what about california's pricing makes it very different from the rest of the country?

But the OP wants to learn lease option assignments so I will stay on track.You marketing piece should be trying to attract low equity, because low equity has a problem: selling with an agent generally takes 9 to 14% of the value of the house, due to agents commissions, closing costs, sellers concessions, vacancy costs paying the PITI, improving the cosmetic look of the property to compete with all the other properties on the MLS, etc. so in California with everything being so expensive, say a $800,000 house, 10 percent being $80,000, 15% being $120,000, most people don't have that savings get rid of their house.Renting out $800,000 house might bring $2500-$3500 a month in rent, but the PITI might be significantly higher, perhaps $5000 a month or more.So what to do?

Apologies, meant to say: a note stating you will not be renewing your tenant's lease.

I will say a large majority of my clients fill it out.

Say a client wants a 700k home with 50k in bank, and 500k approved loan, so if you’re an agent with no ammunition of knowledge or who to go to, what next?

Let's say a seller loans $100,000 at 8% for 15 years (180 payments).