Here in Ny , a seller must either fill out a property disclosure form , or forfeit $500 from the selling price . 

I would be managing the property myself since this would be my first so I will forfeit the property management aspect and that will bring my cash flow to somewhere in the range of $145.

This saves you the foreclosure headache if something goes wrong down the roadAsking whatever you can for a non-refundable option fee (5-20%) that is applied towards the asking price, but is forfeited if the agreement goes south.Have a lawyer draft a lease option contract and learn it. 

While I wasn't thrilled about the water and cleanout bills, the home was in good condition and it was still a home run for me because of all the equity they forfeited.

Give them 12 months to close or their option fee is forfeit.

You forfeit your Option fee if you don't exercise your Option.

If you touch the money you have forfeited the opportunity to do a 1031. 

If a buyer breached an agreement with me, I would forfeit deposit and/or sue ... not renegotiate.

I was under the impression if they break their lease and cause any sort of damage, that the security deposit gets forfeited and gets paid to me.

My Broker ends up approaching the Seller in his office the very next day after I accepted the Offer on my Contract Position and tells them the following:• He has been working with me and has a Buyer ready to purchase at $1.7M• He knows my Contract can be cancelled at any time• He will provide the Seller with the new Buyer's information (allowing Seller to cancel my contract) if the Seller will agree to pay him the 6% commission he had planned to pay his Listing Brokers, AND allow him to keep the $10,000 Earnest Money I would forfeit in the event of a cancelation.