Option consideration isn't taxable until the option is exercised or expires.

So basically set it up as a balloon but give him the option to exercise it.

There is an small exercise facility and tanning beds that are open 24/7, as well as a swimming pool and clubhouse with a coin laundry facilities.

Is there a sample UD-101 that I can check answers against?

Looks like an exercise in pure futility.  

Local investors will know way more than a random sampling across the country.

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

If you would like a sample list of questions, please DM me.What Properties Should You Buy?

After all, would you rather rent a 20-year-old condo, or a newly built apartment with multiple pools, a theater, a running track, an exercise room, and free WiFi?