I think you have a few things confused because your base understanding is fuzzy.The L/O strategy involves 3 separate contracts.  1) Lease, 2)Option to Buy, 3) Purchase agreement.Here are some critical points to follow, and are not changeable or negotiable:1)  The Lease and the Option are NEVER to refer to each other and NEVER be combined into one contract...NEVER, EVER.2)  Never, EVER give any credits from rent towards the purchase. 

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I do understand the warnings as stated above, but in my personal situation, if they stepped out of line about doing something wrong, or rent was pushing almost late, we told them the rules and how it will be right away and put a stop to it.

Following...

I heard somewhere (maybe a BP guest) that if you can find a new Starbucks locations, you can safely follow. 

I would love to know how people’s schedules are I want to create a schedule of my own and follow it

If the bank does not get a better offer but turns your offer down, follow that property and re-submit the offer again. 

After she/he moves out, follow your state guideline for deposit dispensation, the deadline of which is likly triggered by the latter of the tenant moving out or the lease ending date.  

Great follow-up questions:1.)

Definitely a club to follow since they cover so many different subjects through the year.AREA Real Estate Investment Group - Meets once per month.