-----------------------------------At least with a brothel you could sample the wares . . . :)

As you talk with investors and answer their questions (this is all BEFORE you have the deal under contract, remember), you can also share a sample deal with them.

You can even give them sample income amounts to see if the answer would vary based on your income for the year.I spent 4 hours meeting with my accountant this morning discussing things very similar to what Steven has in his post above.

Where can i find a sample contract ?

I gave the address out so people could do this exercise themselves but after seeing that you yourself are incapable of this task, I thought I would make it easier for the group and set the record straight. 

What I would do ...Take care of the roof first.If the HVAC and hot water are still working, bump them down on the priority list.Address the water intrusion (almost tied with the roof for the #1 position).Can you still exercise your inspection contingency rights or has that expired?

OPTION CONSIDERATION: OPTIONEE will pay a fee of $10,000 as a non-refundableoption fee as follows $1400 to be paid on or before 11/24/2014 plus500 due January 1st 2015 for Pet Deposit plus First installment of 2,000 due by 15th of February 2015Second installment of 2,000 due by 15th of March 2015Third installment of 1,500 due by 15th of April 2015Fourth installment of 2,000 due by 15th of May 2015Fifth installment of 600 due by 15th of June 2015 which will be applied toward the purchase price of the property if, and only if, OPTIONEE abides by all of the terms of any other agreement between the parties, AND OPTIONEE actually exercises this OPTION timely and purchases the property.

Is anyone willing to share a sample of a contract that they use for this type of agreement? 

If you are wanting to purchase the property you can contact the person that has the option and offer to buy out their position and then exercise the option yourself.

At the time the Buyer exercises this Option, the Option Deposit shall be applied towards the purchase price of the Property.