I'll certainly take your words of wisdom into consideration.

Another consideration is that the tenant is vacating the premises in 4 months. potentially affecting the marketability and financing.Also, there are some differed maintenance issues but these should be one-time expenses (consummate with a new tenant).

Other considerations on a first purchase?

Tina, what you wrote was right, so you just have to explain it very clearly to the Tenant Buyer that their Option Consideration Payment is just that - a payment to secure their option to purchase the property so that the seller can not sell the house to someone else. 

You also have to take in consideration all the fees that will incur upon selling.  

What details did I leave out of the consideration?   

But I can't remember what triggers the need for a hearing.

Valerie King if you get a mortgage in your name to finance a property, you also risk triggering the due on sale clause if you attempt to transfer the title to an LLC.

I am currently stationed at Andrews AFB and close to pulling the trigger on my first multifamily deal.

I am in a very similar situation to what you were in 1 year ago and very interested to see if you pulled the trigger, bought a property and how it went?!