Speak with whomever is in charge of lending (usually a VP).Go meet your banker in your finest clothing (you're a business man, dress like one) and put together all your financial statements.

I'd guess the P&I to be a bit under $600/month, so with insurance, taxes, and HOA charges, you're probably in for $900 or so a month.

I started at national chain, now at small local company because of the broker in charge.

All she emotionally hears is, "... worst case this money we are putting away each month would cover ..."

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The cleaning fee she charges me is an additional fee charged to the tenant when booking so it is not out of pocket.2) You can easily self manage if you have a person out there you trust as your cleaning/maintenance person. 3) I know it's only 10k a year profit - but in the long run it's paying for itself and in 10 years when I have it paid off, it's going to be 330k (more at that time) in equity - thats why I am doing it.

A bank takes an expense to add funds to its LLR, but when they charge-off the loan it just reduces the LLR without an income hit.

Second, how does one determine the price to charge for the option?

You need to get an agreement signed by seller showing you are merely assisting in marketing the home and are charging a commission or some other contract protecting your interests.

They should know that you are charging an assignment fee.