Thanks, I didn't think about the fact that I still want the reserve built up for when I exercise the option.

The buyer is urged to exercise his own DUE DILIGENCE.

Two years ago we lease/optioned an office building and exercised the option in 2008.

Or lease options where you lease a property to a tenant buyer with an option for the tenant buyer to eventually refi and exercise their option?

Luckily, it came with a 30 day money back guarantee which we both exercised and got our money back.

It is more of an intellectual exercise and less of a art exercise6.

And so much is just simply exercising some good ole fashioned common sense

. $29M / 12 months / 4 units = $604 monthly cash flow / rentable unit.I recognize this is a somewhat futile exercise as you're comparing apples to oranges, but:If you are looking to hold this property long term and you look at it on a strictly cash flow basis...

These dogs need to be taken on several mile walks every day for property exercise. 

JScott has a blog post at BP that includes a file that goes through a basic ARV exercise.