I like to customize my agreements to match the needs of the owner, and price them accordingly.

My father is a broker and my Brother an Agent they tell me always make that contract to secure the agreement ... in a court of law a contract is easy to prove in black n white on paper , verbal is much harder to prove .

In that case I'd suggest staying in your Operating Agreement guidelines and not pissing off your other members with hotel bills and dinners.

We seem to all be in agreement to some extent..

Hi guys, I'm needing to have purchase and sale agreement and other contractor documents vetted by a lawyer.

In the future if you are having an issue that you believe is my responsibility I advise that you contact me before you make any decisions or changes or investments in alternative solutions so that we can come to a suitable agreement."

As long as you follow the agreements in the offer the risk is low and you won't have to wonder if you passed on a wonderful deal.

I hope that our examples and discussions help some of you out there who are trying to figure out where you belong on the spectrum between myself and Bob.Happy investingErikI think we are actually in violent agreement, Erik ... this is a great method for investing, but the ratios of capital gains and cash flows are quite different in different markets is all.

So your basically signing a form or agreement that says no matter what the deal is he or she is guaranteed to get 3% with you making up the difference if any.   

This way- if it ever comes to fruition, and the lease option tenant exercises his/her option, you will lock in the specified sale price that you created in the Option agreement ( property must appraise of course).