If you want to do the exercise of evaluating it like a commercial property, total up after-renovate rents, subtract out average vacancy, then all your line expenses, for your NOI.

Check out a quick look Here; you can also see some sample walk-thru videos of typical homes. 

@Jim Hlavacek and @Tyler VanWinkle, the risk of the bank exercising the "due on sale" clause if you move title to a LLC is way overblown.

. #2 write the plan #3 switch to a similar job type with company you like better #4 take care of you- eat healthy, exercise, listen to educational podcasts during that down time, be kind to others (an amazing gift to yourself).

Sample title: How to maintain contact with your Brokers etc.

I stagger them out to not exercise too many in one year.

You have already gone through the exercise once and you are happy with the result.

I always assume a percentage will not exercise their Option and then I sell the property again and get another Option Fee.

But this is a sample size of one owner (me) so take it for the two cents that it's worth.

They'll exercise every option before selling to rent(especially when they see rent may be higher than their mortgage).