While I agree with Bill G. that Master Lease Options do not eliminate risk, I find them to be an EXCELLENT way to mitigate risk.

To update as far as the numbers go, my mistake, its a 10 unit building (I was thinking of another one) for that price, each unit is 2 bedroom renting for just over 1300 each on average.

This eliminates quite a bit of the pool of buyers.

My income from my regular job is more than enough and I mistakingly said pre-qual instead of pre-approval.

One mistake I made was change from carpet to laminate on a lower craftmanship house built for rental.

"It's going up for auction (starting) at $50,000"These two items should make you stay away from a meth property.Making a bad investment can wipe out your other good ones when starting up.Don't go out of the gate too fast too soon.Let someone else make the mistake of overpaying at auction.

Even if I make mistakes, population growth has a way of bailing me out over time.

.$124I am concerned about comp #2 because it is the same exact house however the sq ft is almost 500 lower so I think that is a mistake.

Are there any glaring mistakes, that probably I missed?

In exchange for eliminating this debt, they're going to lose the house and suffer significant damage to their credit.