Is there an active buyer presence in Bristol? 

Instead of finding a buyer, I decided this would be my chance to start flipping and I aggressively started searching for a hard money lender.

So If the following text is part of the lease option agreement, what are the ramifications of stating "Seller has the right to use the Buyer's Lease Option Agreement forms or they may use a form that the Seller chooses when the Tenant Buyer moves in?"

The big buyers that are larger companies handle everything in house once under contract but ultra high net worth individuals expect you to help them with everything along the way.    

If you can’t wait for them to approve before making an offer you’re saying I’m offering a smoking deal and just want to lock up my property and other buyers may be coming soon. 3 days is reasonable. 

Now your at 40k, subtract 5k for the realtor once your buyer sells and also 5k for closing cost on the buy and sell.

Informed buyer agents won’t waste their time either.

Closing with a known issue would likely bar a title insurance claim once the issue surfaced and regardless, this is a title problem that as a buyer you definitely want resolved.There are a few ways to resolve this including a corrective or confirmatory or other deed but they all will require full disclosure to the title company/insurer and some corrective action or affirmative coverage for the issue.

I have put in a lot of time and effort into learning what it takes to accurately and ethically quote buyers and sellers on properties for assignments of contracts from seller to buyer (I know a lot of real estate agents feel that this walking a very thin line & many believe it's even illegal-also not sure what to make of that). 

They could die and house has to be petenioned out of probate at the same time your buyer is trying to take you out, for example.