We converted 2 of our houses to STR's when tenants broke their leases during the winter. 

We are going to do a lease option to our current tenant.

Rather they are showing a 'proposed financing'.They are NOT guaranteeing that you will find this (LTV, Rate, Term) or any other aspect of a loan (fees, commissions, etc).Leaving the loan aside, I can't help but make a couple of comments regarding the numbers;- Vacancy of just 5% means that if you have 1 move out in a year and it takes you more then 1 month to turn the unit and re-lease it, you have exceeded your vacancy budget.

It already has a tenant with a 2-year lease.

Over the last couple of years I've controlled over $2.3M worth of real estate using creative strategies like wholesaling, lease options, and seller finance.

I gave them 45 days notice of the new lease and rent increase (5/15).

Is buying a 9yr lease on a bar a wise investment!?!

Many realtors will also handle the lease renewal for you because they know you'll come back to them once you have a vacancy.

Lease Agreement says: Quote:CARE, CLEANING AND MAINTENANCE: Except as prohibited by law, Resident agrees:(a) to keep the premises as clean and sanitary as their condition permits and to dispose of all rubbish, garbage and otherwaste, in a clean and sanitary manner, unless Owner/Agent has expressly agreed otherwise in writing in an addendum tothis Agreement.

There is also Subject To, Wraps, Lease Options & Land Contracts.