My actual cashflow is barely $100 and it would be negative if I were to factor in all additional costs(i.e.

Question really is does bank actually do a rent appraisal?

Reality on the ground is exact opposite due to investors not properly accounting for expenses such as maintenance, capex, legal, property management, pest control, landscaping, travel, etc etc.

Ignore the formulas and convert it to actual dollar amounts.

neither are very accurate... you need to have a list of comparable homes that sold in the area that match  the house you are looking at  in lot size ,sq feet,  bed ,bath, outside finish etc  and some time houses even a few blocks away don't match because  they are over the tracks or a hwy or something that makes them a different neighborhood... you need to find a way to get actual sale prices of homes sold in the area and a way  eg feet on the ground to tell you if they are fair comparables.. your offers  and your profits depend on accurate comparables so you can judge  what you are doing... just my thoughts

However, I think a great idea for some BiggerPockets videos would be showing an actual deal happening in progress from Josh, Brandon or others.

Once an offer is signed in massachusetts by both parties it is considered an enforceable contract.This serves as better proof the seller actually was delivered the offer and read through it.

Hopefully, someone with S.S. experience can tell us if they can still be accepting offers until the bank actually ok's a price.

But finding GOOD lease option buyers to assign to is a much more difficult task, because the reality is that 70% of people who call me on my ads are not a good fit, and likely wouldn't be able to actually exercise their "first right of purchase" on the home after I assign to them before the expiration date.

The second (actually maybe the first) discussion would be with Iredell county permits office.