At that point I am acting as a consultant advising them to what I think would be the best method I can use to sell their house; the Option Contract.I have to agree that I am not sure that addresses my specific question but I certainly appreciate the reply.Sincerely,Rob Caldwell

Consult a lawyer if you want a more definitive answer.

Depends on what your lease says of what your responsible for VS the landlord - most leases however wouldn't make the tenant responsible for this kind of work - but you need to read your lease.Yes mold "CAN" be dangerous - some is harmless but you want to get rid of it either way.If either party - you or the landlord break the lease then it can be terminated - so you have to read your lease and find out what it says for repairs.I would go to a free legal clinic in your area - or find a lawyer who will do an hour free consultation and see what they say.

Just like your tennants can move out before the end of their contract (if they have one) but are usually held to at least a fee for doing so and may also loose any deposit monies you required them to put down.This is why I suggest that you consult an RE attorney in your area familiar with the RE laws and contract laws in your state.

Your right, I am inexperienced as a land lord, but a very experienced electrical engineer, I own an international consulting firm major oil companies being my main clients.

However, I feel very comfortable with this one for two reasons:1) My cousin has been a leasing consultant at this property for a year, so he has a good idea of the daily operations.2) This is in the city that I've lived in for the past 17 years.

It would also be a good idea to consult with a note professional before you create the note so you know you can sell it for minimum discount.

I spoke at length with someone in my office, who used to work for a bank about finding a building that has the potential to be repositioned, and brining in investors to finance it, and if I could not structure a way to own it, then I would find a way to bring it to them and add a consulting fee (3-5% of the purchase price) and make money that way.

We were so impressed with them that I went through training and am now working as an intermediary consultant for them.

If they do, first thing I do will be to consult with a local attorney regarding the legalities of this.1) On the subject of taxes - I'm well aware of taxes and I didn't count them into any equations for the sake of simplicity :)2) I put my credit on the risk.