You need to ensure good ventilation when you are applying it because it's pretty strong (it's shellac after all), but the fumes dissipate in about 30 minutes.

If so, what is the proper way to assign the lease to the new owner/landlord, assuming the lease is freely assignable?

Should be an easy breakdown for those who are tracking their campaigns properly.

There are plenty of horror stories here on bigger pockets about buying occupied rentals without doing proper due dilligence.

Ask that agent how much equity she needs from the transaction and you might pay a little more if the seller works with you and ensure the agent knows she will get her commission (That's what they want to know in these deals).

One would think the developer/contractor used in a higher end project would have used rhe proper fill and compacted to spec.

The problem is that most brokers are unwilling to go the extra steps to ensure that they have lease option documentation that satisfies state requirements for their agents...thus mitigating the risks and making sure that these deals will still be covered by their insurance carriers.

Yes, a proper Reg D private placement with all the attendant paperwork.

A MC needs to ensure problems are properly resolved.End of year statements like 1099 are standard.

I want to develop a proper plan, build up my cash reserves and refine my education.