Omar that with experience, so many investors work with up to 5 or more lenders, so we request him to pay the 3 points for the processing and closing, for my attorney to prepare closing paper works, deed and other necessary documents, and he paid.Finally close to the date of closing, we requested him to send a proof, of his 10% deposit to the title company we are to close with, and also deposit the 30% Rehab for us to verify he has the funds.

@Sajid SayeedI use cozy for rent payment and beaver for bookkeeping and schedule E preparation.

You should also look at maintenance and ensure you understand who is responsible for what, most lease to buy contracts make you responsible for maintenance which is not a bad thing, I mean you are preparing to be a home owner after all and it works for small maintenance issues, but you need to ask about the big CapEx items like a leaky roof or a shifted foundation who is responsible for that and what happens if those things (such as foundation issues) are found later down the road, will you get your options money back if decide not to buy for that reason?

Prepare now!

I’m also considering a move to quickbooks online for accounting and exporting for annual tax preparation.

Historically I've just provided a self prepared acknowledgment or a personal certification.

@Alik LevinTurboTax is a budget DIY tax preparation software. 

I wasn't prepared for it and I sure don't have that 30%. my calculation was base on 5% interest rate, now the extra 1.5% eat up big chunk of my profit. lucky me that I was bale to exit due to counter offer.

Be prepared to put down 10% as your EMD if you are offering cash.

You can read this article about the legal ways to evict in NJ to help prepare for your lawyer visit.