Seems like you are on track with that....but don't get caught up over a few hundred dollars on a property that undervalued, you may be tripping over dollars to get to pennies as they say. 

solid house, solid guy,  new copper water lines, new 200 amp panel.  

That would mean you would only be getting back 20% of 5% as a down payment (pennies), and then there's the 2nd problem...2 - The Option agreement would need to be longer than the LC agreement term. 

Tell him you want the work performed by X date or your money back, and that it won't cost you a penny to prosecute because you have multiple lawyers in your family.

Learning a lot, but it's a pretty penny I'm paying for his knowledge.

I had a choice bring my purple jacket or my green down coat.. took the green one. if anyone can put some pressure on Brady ????

Monthly Expenses = $2800 Per Month: Current Management Team = $1000.00Insurance = $224.00Real Estate Taxes = $92.00Fiber Optic High Speed Internet = $89.00Cable TV = $52.00Trash Dumpster = $55.00Sewer / Water = $186.00Natural Gas (average) = $142.00Electric = $327.00Housekeeping = $270.00Ongoing supplies = $230.00Maintenance = $133.00Total Renovation The renovation started in 2011 and was completed 2016 with entire complex being gutted to the studs, then completely rebuilt fully furnished inside and out to new standards, as follows: 26 gauge top of the line triple epoxy coated metal roof26 gauge top of the line triple epoxy coated awning and patio coverSingle hung gas filled energy efficient EZ clean vinyl tip-out windows4 new natural gas water heatersAll new plumbing throughout entire complex/buildingOnly #1 Grade Premium lumber was used throughout entire renovationQuality Price Pfister plumbing fixtures and lifetime parts180 feet of new 4 inch sewer line from the building to the street tapNew premium exterior fiberglass dimensional Colonial style entry door with new door jams, aluminum thresholds, all new lock sets and peep holesCustom picture framed windows with decorative edging and exterior door trim to matchCommercial toilets: all new PEX plumbing, shut off valves, bullets, supply lines, hose bibs, angle stopsNew attic and wall insulation with vapor barrierUpgraded electrical, HE lighting, new fixtures, switches, outlets, breakers, energy efficient lighting, vapor lights, rope lighting and HE flood lightsCustom artistic signage (3) built by Management TeamNew drywall, texture and highest quality Valspar paint throughoutAll exterior wood was hand primed and hand paintedNew vinyl fencing for corner lotPremium Quality pillow top mattressesNew hand textured walls (office), ceiling and covered entryNew concrete sidewalks, kitchens, baths, showers stalls, toilets, vanities, cabinents, counter tops, sinks, refrigerators, microwaves, deep freezers, dryers, A/C units, flat screen TVsAll work has been documents and permitted

Monthly Expenses = $2800 Per Month: Current Management Team = $1000.00Insurance = $224.00Real Estate Taxes = $92.00Fiber Optic High Speed Internet = $89.00Cable TV = $52.00Trash Dumpster = $55.00Sewer / Water = $186.00Natural Gas (average) = $142.00Electric = $327.00Housekeeping = $270.00Ongoing supplies = $230.00Maintenance = $133.00Total RenovationThe renovation started in 2011 and was completed 2016 with entire complex being gutted to the studs, then completely rebuilt fully furnished inside and out to new standards, as follows: 26 gauge top of the line triple epoxy coated metal roof26 gauge top of the line triple epoxy coated awning and patio coverSingle hung gas filled energy efficient EZ clean vinyl tip-out windows4 new natural gas water heatersAll new plumbing throughout entire complex/buildingOnly #1 Grade Premium lumber was used throughout entire renovationQuality Price Pfister plumbing fixtures and lifetime parts180 feet of new 4 inch sewer line from the building to the street tapNew premium exterior fiberglass dimensional Colonial style entry door with new door jams, aluminum thresholds, all new lock sets and peep holesCustom picture framed windows with decorative edging and exterior door trim to matchCommercial toilets: all new PEX plumbing, shut off valves, bullets, supply lines, hose bibs, angle stopsNew attic and wall insulation with vapor barrierUpgraded electrical, HE lighting, new fixtures, switches, outlets, breakers, energy efficient lighting, vapor lights, rope lighting and HE flood lightsCustom artistic signage (3) built by Management TeamNew drywall, texture and highest quality Valspar paint throughoutAll exterior wood was hand primed and hand paintedNew vinyl fencing for corner lotPremium Quality pillow top mattressesNew hand textured walls (office), ceiling and covered entryNew concrete sidewalks, kitchens, baths, showers stalls, toilets, vanities, cabinents, counter tops, sinks, refrigerators, microwaves, deep freezers, dryers, A/C units, flat screen TVsAll work has been documents and permitted

At times It is intimidating and can be confrontational I’m not going to sugar coat it , but if you worked hard to get that property you know what you have to do and you just go in and get it done .

Whether or not you are entitled to it, which will depend on state laws probably, since they paid by paypal they will get every penny back if they dispute.