I had joined Broward and have really been contemplating going to their event on the 4th but it really seems like just a big sales pitch judging by the e-mails I have received (I may be WAY wrong on that assumption)Thanks for the info!

The longer the term the more risk there will be. 20 years is fine for a corporation as life occurrences don't really apply but carry different business risks, even so, a corporate lease option to buy arrangement is business decision.

I then plan to place offers based on calculated target price, and through the inspection period verify my assumptions through Contractor and PM walk throughs.Below is a recent listing that I'm contemplating making a low offer on based on a walk through yesterday, and would appreciate any feedback:Property is in a C+ area (For those Metro Detroit investors, West Dearborn), and is Bank Owned. 3BR, 1.1 BA, 1,164 Sq FtAsking price is $64K.

., @Mike Wood, @ J.o. beardI am contemplating an agency to handle it from now on and I shift my attention to active investing

I would encourage you to consider first and foremost: are all the partners happy with the arrangement?  

No experience to share but I agree it could be a solid option.Creates jobsBetter control and reporting to you.I've contemplated PM in the past and the reviews and costs have always kept me away from using them. 

I negotiated a right of first refusal to buy out the owner entirely for a pre arranged price.

We're contemplating making an offer, contingent on the inspection of course, but to make sure that the inspector notes the cracked pipe on the inspection report so that we can still address the issue.I know this isn't really the hardest issue to overcome, but I want to know what you experts have to say about it. 

Get a Real Estate Attorney involved and make sure they explain to you what the pro's and con's are of this arrangement. 

Anyone else has experience with this type of arrangement?