You will control the original contract and any income you may get from renting the property until the person/group you sold the option to exercises their option. 

I trusted him as he is physically involved in the market, even though he didn't seem to share my concerns.

My suggestion is that you focus on finding out what your end goal is in your final destination and based on that you create your strategy in your criteria and what you want to buy the other thing I would also recommend is start associating and meet like-minded individuals that you can connect with either physically in town or through digital meetups start understanding your area start understanding the different markets and start seeing if those markets will help you get to your end goal

Hi all,I’m a senior graduating college in Maryland after this spring semester and I currently have a full time position at a financial advising firm making a modest $40k a year and have been able to save about $10k in cash since I started there 5 months ago.I’m highly driven and have to be working, exercising, or playing golf constantly or I go crazy so I stumbled into real estate investing recently and read ‘rich dad poor dad’ and loved it so much that I convinced myself that I want to get myself into real estate investing but have little to no idea where to start.

To answer your question though, you'll need to run a feasibility and pro forma exercise with all the numbers.

The Option Consideration buys the Option Contract...that's it...and is NOT refundable.4 - A third Contract, the standard Purchase Agreement, happens when/if the Option Agreement is exercised.5 - The Property in question should never need any rehab. 

She is now evoking COVID-related financial distress "to exercise her right to remain in her home"The tenant lease expired today.

I wouldn't waste the mental energy on calling the person out unless it's negatively and physically impacting my wife and kids. 

He said he wanted to go into a cave and hide so they could not find him to exercise them and buy him out because "if you can get 10% a year on my investment I never want the principle back" .  

I have kept up my contractors license but I haven't done any major work due to physical limitations for years.