Our thought was since we are going through this exercise we might as well ask for the invoices to verify what was charged since our landlord was known to be extremely frugal and try to nickel and dime everything. 

Running numbers is a great exercise and I recommend it, but adding in all of the extra complexity so that you can give your 401k loan to yourself at 4% or some such just isn't going to be great.Either way, best of luck!

I know the ROI of my cash is somewhere in the ballpark of $10,000 maybe $15,000, but, I think it will be a great exercise for my first deal.  

Lenders can dictate terms based upon their risk factors and can enforce DOS.Owner occupied... add spouse/children after closing and DOS cannot be exercised.

On the other hand, technically those judicial redemption rights must be exercised in a lawsuit for force the issue.

A nonresident, who receives deferred compensationor income from the exercise of stock options that wereearned in Georgia in a prior year is required to pay tax onthe income, but only if the prior year’s income exceedsthe lesser of: 1) 5 percent of the income received bythe person in all places during the current taxableyear; or 2) $5,000.

If you did this the 1031 would be appropriate, you get the lease you each want, and after a year or so they can exercise their option and buy it from you.Added bonus - If the rent to own is structured tight enough so that risk of loss passes to the now tenant at signing of the contract rather than the deed changing that is the same thing as you selling the property on the day you ink the rent to own so you could again 1031 that property if the financing issues could be worked out.

Crash calling is fun and can make for some lively debates but it's sort of an exercise in futility because ultimately the market will do what it will do without regard for what any of us say or think.  

You let people join the controlling entity with authority to exercise control because they bring skills to the table that you can benefit from. 

I'm fairly happy with the experience and am glad I went through the exercise.