If you want something you must exercise discipline, make trade offs, and work hard.  

Here is an exercise that I hope you find enlightening.  

Sure would be cool if @Brandon Turner or @J Scott or David Greene (wouldn't allow me to mention) would write a book on how to  fully run a real estate investment business, as a business, including acquisitions, management, how and when to hire employees, what roles to fill first, systems for growing etc.

I believe that most people, unless they are talented at being an elite investor, should just be an LP role in a syndication due to the scalability and being able to spread their capital across different leads, business plans, asset classes, and geographical locations.

It may depend on what role you are holding and what tasks you complete for the LLC. 

How are roles and responsibilities set?

If active, you are forming a basic partnership and defining roles and ownership.  

If the lease is for two years, how do you calculate a reasonable buy price at the end of the lease if the buyer exercises the buy option?

Reviews play a huge role in how we shop in todays online driven world.

I'd exercise option 2 depending on applicant's credit score.I came across the same dilemma when I was trying to fill up a rental property late last year.