Hi @John Alosio, en essence a lease-purchase option is simply a lease with an added "right" for the buyer, namely the right to purchase the property during the option period under the pre-established terms and conditions.So, if you entered into a lease-purchase agreement with the tenant in Unit 2, everything would remain the same for you until and if they execute their option to purchase. 

You invest in a market because it makes you money...period. 

I personally do not put a lot of stock in a Day 1 cash flow number provided you have the means to carry the investment through a dry period. 

I recognize that every lender is unique, however, wondering if anyone has any tips or experience funding a 90/10 or 85/15 LTC + rehab...Finally, on the rehab itself: generally speaking should I plan on finishing unit-by-unit and renting one at a time over a slower period?

I think that's a long time though to hold a consumer out, but I also know some brokers who hold that time period out longer so there's recurring business fees. 

Certain states/areas have laws that allow "visitors/guests" who stay in a property for a certain amount of time (say 30 days) to automatically be considered tenants after that period of time, which would mean he would have to go through the whole eviction process for someone not on the lease.

We assure our tenants that they will only receive one increase per 12 month period, and we are transparent that we always raise at a minimum of 3%.

There is a ton of cash out refi volume going on right now from the pent up demand during the "frozen" covid period. 

You could move out, convert it to rental property for a period of time, and then you would qualify for 1031 Exchange. 

Many lenders allow you to cancel the escrow accounts after a period of time, mostly one or two years.