They have a medical office and his wife is the doctor.

If I intent to exercise my option to sell the property, I will have permission in the lease to make repairs or else I don't do the deal. 

It may be too low to even start the conversation with them and then I'd be wasting both our time.New builds are new to me, so I like the mental exercise to see what kinds of numbers exist.

Try not to tie-in substantial lessee improvements with the option exercise. 5.

That's the plan so far, but still exercising other people's strategies like yours so I appreciate the info.

Just looking for options to exercise this strategy after four mortgages. 

@Nick Noon Normally what you would do figure out your offer with the kickback, add 6% (or 6.3%,--I'll leave the math as an exercise) and ask for 6% back from the seller.  

Can someone please post the link to the right threads to go cover the below concepts, I am not quite finding the details I am interested in hearing more about.So you buy a Note for cashflow (for the exercise, it's a new PN).

That is a mistake and you can read many of the horror stories right here on BP from newbie's who failed to understand that if they won't read a medical book and perform surgery on themselves, it's probably not a good idea to read some blogs and start drafting contracts with no knowledge of the provisions and consequences of such an action.

Only if you succeed would you exercise the option and buy the property and start with the actual development.So, you're going to have to spend some bucks up front and there is a very real chance this will go nowhere and the up-front money will be a total loss.