Since it was a rental, the bank is not going to look at that the same way.Self-employment puts another spin on things and is sometimes difficult to finance.You definitely need a mortgage broker to help you as the option-exercise time period is usually a window and doesn't last forever.  

I despise the practice of tying up a property and ignoring obvious defects and the use the inspection report to reopen the negotiations after the seller has mentally committed to a sale.

Hey Jay,Thus far I've heard and read of 'exercising their option to purchase' ratios within the 30% - 70% range.

If and when the tenant/buyer exercises their purchase option 100% of it will be credited that they put down.Hope this helps!  

Real estate agents: What are best practices you've discovered for using Facebook ads for lead generation?

But someone who is reaching out for someone to sell the house to, those would be a higher value lead.I currently have a real estate client in my local area that I generate leads for, so while my specialty is online lead generation, I'm looking for alternatives in my local area for my own deals, which is a good exercise for me.

It's practically new!

Is it  an accepted common practice?

But- great practice talking to homeowners for the first time and getting it all down.Good luck!

I was looking at a park earlier today (just practicing making offers!)