If an owner agrees to a lease option contract.

ok so NO I DO NOT think you should consider buying this home.... first of all i think your numbers are off, insurance on $500K home is way more than $50 a month...also you will need 20% ($90,000) for down payment if purchase price is 450,000......then you also need to consider other expenses like vacancy, repairs, property management (even if you self manage)..... as your first deal this is way too much risk for negative cash flow and the hopes of appreciation........if its still sitting on the market, then its over priced....... an appreciation play is not a smart first investment IMO

(Management contract ends 2 weeks prior to tenant lease ends)I was thinking of sending a letter in the mail introducing myself lettIbh the tenant know my plans two months prior to the lease ending.

(B)   Except as may otherwise be permitted by applicable law, Tenant shall not perform or contract with third parties to perform any repairs of any kind on the Premises without the prior written consent of Landlord.

I have mad a series of smart financial decisions over the last 10 years that have put me in a great position to go out on my own and take this on as a full time career. 

Not all agents understand what we do and why a “beautiful house” isn’t always the same as the “right house” or smart business decision when you plan to “house hack”.

Some of the typical problems when kicking the tires when contract. 

Get the smart/remote devices and put a lock on them for a certain time/temperature.

Or what about some super binding contract like a P&S or Mortgage Note, but one where I wave the right to dispute anything.I would have a lot of hesitation offering this to a private hard money lender. 

Im wish i could say i want but right now i need a decent contractor i had a potential deal under contract but my "partner" /contractor pulled out last minute.