Exercise caution - in some parts of Florida, particular SE Fl, there has been rapid price appreciation in a short period of time, and things are getting a little frothy, maybe heading back into bubble territory.  

I also know about the recent RPP Ruling with lead based paints with the EPA, and do mold clearance sampling too.

Failure to disclose could result in legal liability down the road.It's also essential to consider the buyer's ability to exercise the option and obtain financing to purchase the property.

So after 5 years, when exercising the option, I'd pay the remaining 75% minus the principle paydown over the 5 years. 

Thank you for the exercise.

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

Also I possible does anyone have a sample they would be willing to share with me?

Many of the replies have been very informative.I would literally take  piece of paper draw a line in the middle and write down the pro's and cons of the following senario's since this is your first investment as a mental exercise; Keep all tenants, Keep one tenant, and the Band-aid approach which is to just remove them all.In our scenario we tried all three;We personally met with all tenants (one was vacant) and explained the raises in rents at a discount just to "float" the property until the spring.One tenant opted out immediately.

Only looking to exercise some caution. positioning at this point could leave one poise for a big break out .

We didn't walk away empty handed, they even left us with a free on-line resource page filled with the conference slides, web links, sample marketing pieces, contracts, blue prints for marketing and even outlined details of several of the strategies taught.