If such a person where my tenant, I would have animal experts testify to the space requirements and exercise requirements of large breed dogs (5 lbs of dog = 1 mile of exercise per day)

It should require a written notice of intent to exercise the option as well as an extension provision.

Hwwever, I don't think a realtor would be too interested in writing a bunch of low ball offers (and I don't blame him).

Until then, this auction exercise is just for entertainment.

Smoking is a hard habit to kick.Even if she kicks the habit she might replace it with a healthy habit exercise,church,etc. or another negative habit alcohol,drugs,etc.You just can't quit you have to replace the void with something.Since her income is great I would take a much larger deposit to cover the risk.Just like pets,other tenants moving in people will not always tell you the truth.It's human nature for many tenants not to be 100% honest.

She said the state of MN takes a very dim view of these contracts because so few buyers ever exercise their option on them.I am trying to use it to do a sandwich lease option but was told by her I should try to use a contract for deed instead.

So point is, a certain renovation can snow ball quickly by having to do unplanned work simply because you opened up an area.

So this whole experience was an exercise in being aggressive for me.

I know that all houses eventually will need a new roof, new windows, etc, etc, but this house needs all that up front before i even get a renter, with a monthly rent for $1,150.my initial thought is to offer 61.5k how can i tell if even that low ball number is too much?

If you keep that ball rolling in the green like that you could get to a point where you could pull on some commercial financing, based upon not on just the property value, but on the business revenue.