In the event of recent non-drivable we would allow more time to get in operational state than we would allow for other lease violationsIn my market option 3 could be very costly.  

Typical problem properties that are difficult to sort but once it is sorted usually with good upside potential.

If you make an offer on a property that's in a price point of a house that would also attract an investor looking to build their portfolio where rents are in an affordable price point, you will get out bidded more often than everyone else because you need a cheaper house.

I just don’t want to chase payments or try to foreclose unless I’m getting MUCH more than I can get from a cash buyer. 

I expect the project will be a bit cheaper than the quote because I've been sourcing materials myself which were included in the quote and was able to buy new hardwood flooring on fb marketplace as well as buying nice hardwood cabinets from Habitat Restore that will be refinished instead of buying new plus a few other fun thrifted finds to keep costs down!

In my contracts I always ask for more earnest money than I put in myself, that way, it covers some of your carrying costs and due diligence related costs.

The first two I called didn't even know what an assignment (other than in the general sense) or a double-closing was. 

More than happy to connect and strategize with you! 

If you have strong income and a busy job, you want to be careful not to bite off more than you can chew.

And just like Bill said, if they pay you less than $600, they don’t need to issue a 1099