Just remember to keep the two documents (lease and option) separate;  one should not refer to the other.Option fee should be non-refundable, however if you want to credit the option fee towards their down payment WHEN THEY BUY, you could structure it that way.Personally, I would be very careful about how you go about 'crediting' $xx of monthly rent towards their down payment. 

My thoughts have been trying to figure out pitfalls of late fees, and how to bi-weekly could affect eviction if needed. 

The current mortgage is $1486 and it is being rented for $1600 with property management fee of 10% ($160).

You will want to decide what is most important: lower fees, quick processing time, proximity to you.

In some states the owner has the right to redeem, repay the amount sold for at auction plus some fees, for a certain amount of time After a tax auction.

. @ Al: With Zelle, can I charge late fees?

Also many old tools in walls over the years; usually tape measures (old fashioned kind that fold out like rulers), planers, levels, flat bars, crow bars, nailsets, hammers and such.

After months of listening to every single BP podcast, reading all the BP books and countless posts, I finally closed on a 3-flat in Chicago that I’m house hacking.

Also, I will respectfully disagree with a comment made above about HOA fees.

Full Price is the high bid plus $195.00 Transfer fee !"...