After the auction, I drove by to see that an addition for the third bedroom had been destroyed by someone stealing the aluminum siding and the rest of the house was destroyed by copper thieves and a tree that had fallen on the front.Lesson learned:  Know what you are bidding on or don't bid!

Consider any due on sale clause filing an option.Owner occupied, have a mortgage originator qualify the buyer.Do not put contingencies in an option that require performance, like paying rents agreed, it will invalidate the option making it a purchase contract, an optionee may not be required to perform in any aspect under an option.The lease and option are separate contracts, the lease may require performance, like paying rents as agreed.A residential tenant may not be responsible for repairs, IRS requirements.On a 3 year option, it will be better if you were to pay $3,600 as seller concessions to closing costs, she must pay pre-paids under most mortgages.

My wife is pregnant with our third child.I have never had a problem with any of my 5 previous loans for purchase, refinance, and a HELOC.  

Now, if you have any two of those numbers, you can calculate the third number. 

@Alfredo Crespo Keep in mind that the lender will NOT allow the borrower to take any money if a short sale is performed.

Got my hands on a couple of performing notes well seasoned and excellent pay histories for 2 condo units in Florida.

Reit's if you look over performance over time tend to be really volatile.

Personally, I'm a Self-Storage Guy, so I'd perform a basic feasibility study to see if Self Storage Would work in this market, and if not, then pursue a conversion to the larger units.  

I won 2 units now (live in one) and have an opportunity to buy a third.

In exchange for this permission, the Tenant agrees as follows:1.To keep no more than 1 domestic dog(s) as described below.2.To pay additional rent in the amount of $ 0 per month; or3.To deposit with the Landlord a "Non-refundable Pet Deposit" in the amount of $ 250 which shall be held as security for the faithful performance of this pet Agreement and shall be used upon the termination or expiration of this Agreement for the purposes of cleaning the Premises.4.To keep the pet from causing any annoyance or discomfort to others and to immediately remedy any complaints concerning the pet.5.To keep the pet from damaging any property belonging to the Landlord or others.6.To immediately pay for any injury, damage, loss, or expense caused by the pet (In this regard, it is expressly understood that at no time shall the Tenant apply any part of the Pet Deposit towards such amounts due, but rather, the Tenant shall make restitution immediately and separately from the Pet Deposit.7.To keep the pet under control at all times.8.To keep the pet restrained, but not tethered, when it is outside of the Premises.9.Not to leave the pet unattended for any unreasonable periods.10.To hold the Landlord harmless from all liability arising from the Tenant's ownership or keeping of the pet, including but not limited to any liability resulting from the Landlord turning said pet over to local pet policing authorities should the pet be found unsupervised.11.To dispose of the pet's droppings properly and quickly.Also, to coordinate the cleanup of the pet’s droppings with the weekly lawn maintenance.12.To insure that the pet will wear the appropriate Local Animal License, a valid Rabies Tag and tag bearing the owners name and phone number.All licenses and tags must be kept current.13.Tenant agrees to control flea infestation and will exterminate if necessary, and upon demand, in any and all areas affected with full cost to be paid by tenant. 14.Tenant agrees that Landlord will not be responsible for the injury, harm, or death of the animal, and agrees to hold Landlord harmless for any damages suffered as a result of any harm caused on the animal or by the animal upon another person, guest or employee.