I grew up in the real estate and hotel business, own a small general contracting company and am close to obtaining my nursing home administrators license. 

The two hidden parts are “administrative fees” and “profit”.

SAVE YOURSELF THE PAIN.....

I dont have to take another for another 3 years but it was a pain to get completed.

Some states are pro tenant which makes general sessions cases a pain for owners.

Now the next step is to understand what are the pain points of your prospects and help them resolve it. 

However, permitting will likely be a huge pain. 

Having everyone on the same lease is more administrative work at times but saves a ton of liability.

I'm considering applying for pre-approval of a HomeStyle Reno loan I've been discussing with a loan administrator for a while.

Im holding a ton of doors in NC and Fl...and wanted to execute lease options..When it comes down to actually finding someone local in reality who is doing it as landlord and loves it and talks highly of it, with a duplicatable system, i have yet to find....i can only get resistance, discouragement, bad stories..Locals, ie, realtors, landlords, attorneys, prop mangers, on and on, all will speak negatively about it, and even against it, even though/if they have never done it..its not common practice here (jax) or NC..and misunderstood and seems to be judge to judge..in NC and Fl to decide how much headache and pain you'll be stuck with, when tenant goes bad..The 2nd worst case scenario you have to foreclose, not evict, because of tenant equitable interest, and 1st worst case you'll have to reimburse a tenent who has inflated repair-rehab made up invoices before a judge saying you have to reimburse them...these two scenarios are possible, real, and potentially devastating and i'm not sure how to avoid or minimize.