I dont like sandwich L/O's- lease optioning from the owner and lease optioning it out, too much can go wrong.Like you said, if you dont exercise your option, you lose your option fee. 

If I intent to exercise my option to sell the property, I will have permission in the lease to make repairs or else I don't do the deal. 

I wonder if some are making more money selling stocks and derivatives than making money on the physical houses themselves.

Get/ Stay connected in the physical and virtual sense. 

It may be too low to even start the conversation with them and then I'd be wasting both our time.New builds are new to me, so I like the mental exercise to see what kinds of numbers exist.

Try not to tie-in substantial lessee improvements with the option exercise. 5.

That's the plan so far, but still exercising other people's strategies like yours so I appreciate the info.

I wouldn't even mind virtual offices although I would prefer a physical local one.

Just looking for options to exercise this strategy after four mortgages. 

But one question - if we accept a disabled person (which I'm glad to do) does this implicitly mean by law we have to prep the property to be wheelchair accessible and other physical modifications to the property?