Although we did extend it and we did negotiate that our option payment would be a full credit to the purchase price so NO INTEREST Carry for us..

You are withholding info required by the Appraiser which supposedly increases your property value, extending the inspection time and wasting the Appraiser's time.

When they ultimately sell their houses, the gain may extend beyond the federal tax law's maximum exclusion amounts on capital gains of $250,000 for single filers and $500,000 for married couples.

Therefore, its your balance sheet/credit worthiness combined with the real estate (banks collateral) that will be considered in extending financing, not the LLC.

I’ve read of some extending long term.

As mentioned, some people, be they investors or just owners, see how great it would be to generate what they think is a steady income -- just with a huge counterparty risk if they are extending credit to a nonprime or subprime borrower...As mentioned, using this strategy when you don't have the resources and/or credit to back this is a recipe for a bunch of disasters. 

As I basked in the glow of my achievements, I knew that my success was meant to be shared.With a heart overflowing with gratitude, I extended a hand to others, offering guidance and support to those who dared to chase their own dreams.

However, by extending my search to areas beyond, such as Riverside County, I found that $700,000—or perhaps even less—could secure a 4-plex.

It should be noted that there is proposal to extend the full 100%.

The best case, and likely the most you could ask for, would be to cover the carry cost of the extended closing time.