As a lien holder you can exercise your rights on the property. 

We actually exercised the option just under a year into the option period. 

He sends this teaser with the nice pictures and the price to investors from Italy and requests their feedback (and indication if they would be interested in buying).If he senses that there is serious interest (and with some experience you can tell whether or not there is serious interest), he exercises the option, makes the repairs and then he sells.

(a) A landlord may not retaliate against a tenant by taking an action described by Subsection (b) because the tenant: (1) in good faith exercises or attempts to exercise against a landlord a right or remedy granted to the tenant by lease, municipal ordinance, or federal or state statute" Last I checked, freedom of speech and protest was both state and federal statute that could be used against a landlord.

If a CPA and you don't need them to be physically located in the VA area (it shouldn't really matter where they are physically located) let me know and I can make a recommendation.Eric

However, non-citizens must be  very careful not to carry out any of the physical labour on the property themselves, but you may be able to depending on the type of work visa you have.  

Too late now, but the key is for the landlord to exercise their right for entry and use a "Notice to Enter" if necessary, in accordance with landlord-tenant law, PRIOR to posting the "Notice to Pay Rent or Quit".  

With Lease Option it will allow you physical control of the property (lease) and later down the line gives you the right to either exercise the option to buy the property or to just walk away. 

I would probably look for an area that had houses old enough to show physical distress just be virtue of age.

Physical - A thorough inspection of the site, inside and out of all units and grounds.