Lease Option out as an exit strategy is always good if done correctly.

And Jason I like your concept on the Attorney you are correct keep the agreement simply understood but complete and precise.

Correction: FDIChttp://www.fdic.gov/bank/individual/failed/silverstate.html On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

I have not assigned my option to the new tenant buyer correct?

I don't know if I am planning it correctly or not.

Even if its correct, and you're thinking you'll avoid PMI by doing a refi that's under 80%, you'll need to have a loan balance on the refi that's under $264K.

But I am unsure what they are.Does this sound correct to those of you with more experience and have been following the news about the bailout?

That's not exactly correct.

.$70,860/12 months = $5905.00 NOI per month$760,000 @ 9% for 30 yrs = $6,115.13 monthly mortage paymentFor a NEGATIVE cash flow of $210.13 per month.So, shooting for $100 cashflow per unit, I would need to purchase at around $435,000.I pulled the 9% interest rate + 30 year term out of the air, so any corrections on the reality of such a mortgage are appreciated.Do my calculations look right?

We've run through the data many times and the current numbers are correct.