If you own just one of the 4-plexes out of 23, I assume this it not all part of a single apartment but rather all separate properties with separate owners.

I see you mentioned that the land is unincorporated, so I'm assuming it's outside of city limits so the governing municipality would be the county. 

With the right documentation/agreement I assume I would be able to lock it down even though when it comes time to execute on the option that strike price agreed upon upfront will be 50 or 60% of the actual re-positioned value.  

I think that you all are assuming that I'm not going to get a job?

@George Blower I've also read a bit about the IRA LLC I'm assuming I could keep contributing to the account but then are the contribution limits $5500 still?....

I assume it is same situation with the trailer.

As an example, seller usually has to complete a full short sale package to include YTD paystubs (Assuming they are employed) and well, they usually don't provide one or, they'll require proof of funds from buyer showing they  have the capacity to purchase and well, sometimes the agent provides a copy of earnest money instead.

Assuming there are no named/served liens in second/third/etc behind the first mtg, the Owner gets the surplus.

@Dina Harleth I am going to assume that your PM is also a licensed Realtor and is using the California Association of Realtors standard contract, if this is the case they will almost certainly not be willing to change it partially because it is against the California Association of Realtors terms of service and could also affect the contract as a whole. 

I would have to assume they would have to do option 2...I thought i'd ask about option 1.