Have it written up in the purchase contract that you can exercise option C (the home inspection contingency) if you find the inspections unsatisfactory.

@Jeff Greenberg, @Todd Dexheimer, @Brian Burke , @Yousif Audra thank you all for chiming in with the great information are there any special forms to use as a presentation or would anyone of you share a sample one with me.  

Most important, I will be sampling copious amount of alcohol, food, tea, events, and nightlife.If someone wants to join me in any of the above endeavours, talk some real estate, have a beer, etc. it's my treat.

Your year 1 projections in this sample analysis look something like this: (1) Pre-tax Cashflow (Also known as Cash on Cash) $2891 (15.25%). (2) After-tax Cashflow (Based on provided effective tax rate of 13%) $2789 (14.72%)(3) After-tax Cashflow + pay down on principle $5579 (29.44%)(4) Total Return (After-tax+paydown+appreciation-2%) $9179 (48.44)Disclaimer: I am not familiar with your market.

Once the permits have been gotten, the buyer will exercise their write to buy the property for $500,000. 

The lender can exercise the "due on sale" clause if the name(s) of the buyer are not the same name(s) as the members identified as the owners of the LLC.

When looking at purchasing an apartment complex it is essential to put together a detailed deal package document that you can present to an investor or a banker.It is helpful to first take a look at a sample deal package.If you take a look at a sample deal package that has been put together by one of the larger brokerages you will see that these are serious documents that can be around 25 pages in length or more.The document can begin with photographs of the property that you plan to acquire.It should also include a confidentiality statement.This should be followed by an executive summary which introduces your company and states precisely how much money you are asking your investors for.

If after the year you choose not exercise the option, then your worst-case scenario is that you just rented for another year... not that bad.

The tenant is moving out and not exercising the purchase option.

Once you figure out your target property type and area, use the calculators on this site to analyze sample deals so you become very comfortable with your target price and know exactly what you are looking for so your emotion doesn't get the best of you....Good luck.