:@Joe VilleneuvePlease see the post be Erik here https://www.biggerpockets.com/topics/762662 Just don't connect the two contracts (lease, option) in any way.The Lease agreement gives control over the use of the property.The option agreement gives potential control over ownership, and 100% control over the exclusive right to buy...during the option period.The purchase agreement is the way the option agreement is executed...and is a third contract, which has NOTHING directly to do with either of the other two agreements.

You could get an EXCLUSIVE Option to buy & record the Option to protect yourself. 

@Charisse PattersonYour LLC is a business and you can write off certain business expenses like advertising, mileage to look at properties, cell phone and internet if they are use exclusively for the business, a website if you are going to try and attract off market deals, business cards, etc.

I’m in a similar situation and looking to use OPM exclusively.

Borrowed $70k from her at 9% for the bulk of the rehab, will finance any overages with remaining cash from our 121 exclusion.

Is it efficient monetarily enough to exclusively hire contractors to rehab the houses into rent ready conditions?

I personally like to do less transactions for volume but larger deals and more exclusive focus and attention with my clients.

You are not allowed to use passive losses (rentals) against active income (w2s, self employment ect) The IRS has a small taxpayer exclusion where they allow you to do so if you make under $150k.

They are making a bet that they won't get involved in a catastrophic lawsuit that will exceed the coverage or be an exclusion of their insurance.

Or you can petition to Partition.If you get possession of the house along with anyone's interest (color of title) and if you then use the home as though it was yours -to the exclusion of the other heirs, in three short years you can file suit to Quiet the Title completely in your name under Texas 3 year Adverse Possession Statute for those with Color of Title