Pick apart a house from top to bottom -- even things you wouldn't touch or change.Don't hesitate to put tons of offers out there, just don't burn your bridges doing it, is my advice :)

And yet his pretty little face is at the bottom of the page asking us to register....

Bottom line is that you can't allow your tenants to be put in that situation because you never know what they'll do.

We are at or near the bottom of the market, these houses aren't going to devaule much more, and even if they do -- the rental income will remain.

Multi-member LLC's can help in asset protection by dealing with bottom up creditors (has a claim and/or gets a judgment against the LLC arising from the acts or omissions of the company rather than from the acts or omissions of a member, manager or employee)as well as top down creditors (gets a judgment against the member because of the member's acts or omissions, rather than the acts or omissions of the LLC, its managers or employees).

I put an offer together using the standard CAR contract but added a few things at the bottom.

Some bottom of the barrel, desperate realtor may, but that probably wont be helpful to you.Learn to buy, sell and negotiate your own short sales if this is the road you wanna go down.

Here's How - then go to the bottom of my post and follow the instructions for using http://www.screenr.com/ to take a screencast of the issue as it happens.

Is there some way to put a contingency clause in a lease option to allow for renegotion of a sales price if market conditions really bottom out again?

This is termed a "bottom up creditor".