Now, lets say I have hypothetically $80k to play around with in real-estate, would it be a bad idea to exercise leverage where I maybe purchase three or four cashflowing properties (within a span of a year)?

However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law."

I like it so far but like I said, I haven't exercised it to it's full potential abilities yet.

Now you of course can discriminate against smokers and dogs (That are not medically prescribed) all you want. 

They are untrained animals, can be just about any animal on earth, and do not have to be "prescribed" by a medical doctor.This tenant is a great demonstration of how fraudulent the system is.

How does item #3 normally work, is it in line with what's normally done or can they buy whenever they want and wouldn't be required to rent for a certain amount of time before they can exercise purchase option?

. - The person makes triple what they need and have a FICO score 100 points higher than needed, so it makes no difference and was a pointless exercise. 

Development is booming and the landscape studded with impactful projects: Apple is building a $1 billion North Austin campus; a multideveloper transit-oriented development is underway near downtown on Lady Bird Lake; the new Dell Medical School recently opened at the University of Texas; and a major airport expansion is underway.

The first section about envisioning what you would retire to is a really worthwhile exercise.

That is difficult for me to answer because I have read about 160 books in the last 6 years because of my handicapped medical condition and I cannot walk, drive, or work outside of my home which luckily has a paid-off mortgage after about 11 years I did back in 1996.It probably depends on the niche(s) you pick.