You'll only pay tax on that amount. 

I have been considering joining AAGLA and know they have lease forms and other forms, but it is $199/yr.In the next couple months, I am looking to get a standard CA NAA lease written up with RUBS for water and sewer billing and a requirement for the tenants to carry their own renters insurance policies with $100K or so (if there are recommendations around this please let me know) liability limits.Does the community here have any advice on how best to do this and where I could get a lease form that does the trick?

I am certain the subcontractor had other jobs and this was put on the back burner.

Looking for some ideas on where to start.

Hello, I'm planning on purchasing property in the next couple of months.

Our understanding is that if we designate the $60K as "OPTION CONSIDERATION" - these funds and the USE of these funds are NOT Taxable to the property seller UNTIL one of two things happen; # 1 the OPTION gets exercised, or # 2 the OPTION gets cancelled.

Quote from @Kimberly Abeln: There are more issues than deal flow, but I’d rather not go into detail on this forum.

It ended up being a seller financed deal.  

the BRRRR method is very hands-on.  

Lots of great insight on here!