Anyone have any experience with something similar is welcome to share, or just any thoughts in general are welcome.If you want to avoid the hold up I would close on the properly titled property with the title insurance and buy the separate lot in a different transaction.

It needs to be set up properly so that its not considered an asset of yours.

My full time career is as an executive chef for a semi-private golf club in New Jersey.

My only caveat that I'd like to share per my broker is that listing agents tend to underestimate operating expenses so if you're planning to conduct a transaction without buyer representation, make sure you know how to properly analyze the property on your own.  

Tenants who have been screened properly generally will not destroy your property and will usually give you notice, allowing you to market the property while still occupied, have a new tenant lined up ready to go, and move them in very soon after the prior tenant leaves.  

@Brian Gibbons What kind of timelines do you usually recommend to execute the option?

You can ask for a recomendation on BPAssignment contract is used when you have an executed contract between you (buyer) and seller and you sell you rights of the contract to the end buyer.

It is properly appreciate better.

Get properly licensed and insured. 

I have done this with 11 different properties (with 11 different lenders)  11 different times and have never once had a lender execute the DOS clause.