Question - if you’ve contracted for a property you intend to “wholesale” - i.e. flip the contract - and that doesn’t pan out, do you exercise a clause enabling you to exit the deal, or do you close it in your name?  

I know its a Massive catch 22  how do you start.. and what is the proper amount of reserves to have.. but as your gently alluding to anyone using ALL their liquidity and thinking one low end rental is going to get you to your as Morris calls it  ( Freedom Number)  this is ultra high risk.. much better to simply buy a REIT and let the pro's manage it.The risk of owning these assets is just not clearly talked about...

I am committed to doing EVERY exercise period!

If Borrower wishes to exercise this option to extend, Borrower shall notify Lender of Borrower's intent to extend in writing prior to the Maturity Date.Security for Payment: This note is secured by n deed of trust of even date from Borrower to Doc Prep 911, Trustee, both of which cover the following real property: Lots xxxx, City of xxxx, according to the map or plat recorded in xxxx, Map Records, xxxx, Texas.

Nonetheless, I implore you to do an exercise.

After that, you assign the option and they exercise the option. 

But I also doubt this requirement is a gentle no, and will make it difficult to rent.

Many people I know who leave do so because they have lived here so long they want to exercise other things while others leave for family reasons.

Real estate is very similar to exercise you need dedication, repetition, and a solid diet (education).

Property management is not a joint exercise between you and them.