@Bill Exeter Thank you for the explanation.In question 1) I am understanding that not only does the close have to take place in the 180 days, but so does any capex that uses the excess funds?

@Bill Gulley thanks for the info, from my understanding the master lease option allowed to lease out the property to tenants than keep whatever excess cash you have after you have paid expenses.

I thought that sounded a bit excessive and the primary reason I posted the question on BP.

There are around ~145k in excess funds which I assume go to the owner not me or the existing debt.

End of day goal would be a $7m + asset leveraged from that $1m capital, with an equitable position in excess of $2m so finalized step would be the "Rinse & Repeat". 

In my experience, proper due diligence, good contracts, not investing in excessively tenant-friendly areas and keeping sufficient reserves can mitigate nearly all the risk of "professional tenants."  

The facade soon fell through after I filed a legitimate claim in excess of $50K (property is a total write off) in February 2013.

Yes, I still claim it as my primary residence, I applied with a local credit union and they as something about "excessive obligation to current income" and refused to apply my overtime from w2 and income from the STR.

In 2002 I decided to rebuild the engine due to excessive oil leaks, a common problem for these years.

Just because a home goes to foreclosure sometimes it’s not a bad thing and the sellers can still get the excess funds.