Property Owner Name,If you were to ever consider selling your property at 1234 main street.

Skip to cliff notes for shorten version, numbers, and main question if you don't feel like reading a long post. 

Because when you try and sell 123 Main St. which is a 3 bed 2 bath house on Craigslist without a RE license you are violating CA business and professionals code.

@Dakota Soles Of course investing locally should be your first preference if all things are equal but if you can't achieve your objectives in your local market, then you have no choice but to go outside of it.

Main need is foundation and architecture. 

The first of your two choices is equivalent to $100 per drywall sheet, the second $300.  

If the Seller shows signs of having the same desire, they will give him the time to work it out.My main point is that communication with the existing lender is vital asap. 

Of course the clause and then subsiquent eviction is my main concern.Thanks to all who will provide their wisdom.Jason

If you don't want to acknowledge them, that is your choice, but don't pretend they don't exist.

If your main investing goal is cash flow, and you intend to hold the property "10 years to forever", you shouldn't let a potential secondary benefit prevent you from purchasing.