However, you will still need to qualify based on how well the properties you own are performing and as long as the numbers continue to work for the banks, you won't be stuck at 4-10 loans max.

LOL, my problem is that I'm not sure I'll be in good enough physical shape going ice bound, but I'm working out to see.An option contract cannot have any performance required by an optionee (buyer) meaning they can't be required to actually do anything, if they are, it's no longer an option but a sale contract.

I am employed as a Property Manager, Rehab Estimator, and I perform Valuations for a company that specializes in tax deed/sales acquired properties.

And some perform perfectly, like my nailers.

Seller needs to Perform or face the consequences.

I thought it might be educational to read some specific examples of why you've had to unload a poor performing property.

Different deals would call for different structures, pay outs etc....Have workers lined up ready to perform rehab - they've been trained what preferences we have (flooring, colors, hardware etc...)Rehab, stage, sell.  

OR . . . you can work with a hard money lender that has been through all of that, knows what they are doing, and could use your funds to reimburse their loan money disbursed, and see if they will part with their performing mortgage notes.

While the real money to be made is on the upside I think a 10 cap on current performance is still steep unless there are stellar seller financing terms.

You should ultimately calculate all your figures and purchase price based on actual performance of the asset in the last 12 months.