What is a good "out clause" to use in a lease option when you are the initial leasee, but do not want to scare the seller with a clause that the end tenant could abuse?

It was lower than the asking and the sellers initially were disappointed but when they saw their friends sitting for months and eventually a year they were real happy they took my advice.The fact is it costs money to sit on a property and it cost you buyers if you price it wrong...If you price it to low you will get multiple offers so in my opinion set the tone and price it aggressive and move on to the next deal.

Just screen the tenant as well as any other and verify their rental history.

I will be focusing initially on Hudson and Bergen counties with plans for further expansion in the future.

lightbulbs.I'm trying to figure out what is the best lighting to use, both with respect to functionality (brightness), initial cost to install/upgrade, and monthly usage costs.Thanks.

I'm wondering, how did you initially establish your clientele base?

Initially, just like Wayne Brooks mentioned.Once you've had a loan for some period of time, the MI can be taken off by getting a new appraisal showing loan balance to value below some percentage (that should show up in the loan docs - my guess would be 0.78 or a loan balance that is 78% of appraised value).

Educating a borrower may have little financial reward initially, but it can be rewarding in public perception which by the way can be very valuable.

History in the NYC market says a lot more than what was paid for it initially.

@CL Tumlin ,Depreciation as @Dave T said will be prorated for the number of days in the year.Unless you initially segregated out the costs upon purchase between the individual components of the home you will continue to depreciate it over 27.5 years.