I have never tried to exercise that clause so I'm not certain it would hold up but I figure it's worth putting in there anyways.

This is a range I've seen based on a small sample size, but at least gives you a data point.3.  

Following renovations and work to reduce cost they stabilized at $25/mo, with a year worth of bills from hundreds of units to even out the sample size.

I start with water, coffee, prayer, scripture reading and then BP journaling before getting in some exercise, usually have 4:30-6am to get that in... plenty of time! 

Initiative and exercising patience.

Does anyone have a sample of a request to fax over?

In my experience, they are able to position themselves to exercise the option much less than 50% of the time.That being said, if you can sandwich (stay on the lease/option and assume ongoing liability) you should have a good spread on both the rents and the consideration.  

Sharon - could you point out where to find a sample of postcard with effective message?

@Hunter HarmsBelow is sample of items that it would likely be best to have an attorney prepare or at the very least reviewPartnership agreement(If you ever decide to partner on a project with someone)Lease agreement(Landlord/Tenant laws vary by state and you want your lease agreement to stand up in court)Eviction process (Don't try to do your first eviction yourself; doing anything incorrectly will reset the process giving your tenant more time in your home!)

Then, in 3-5 years, 1031 exchange those properties into small apartments.Look for master lease option opportunities now, with the intent to find value-add apartments that I can increase NOI and earn enough cash-flow to save for a down payment upon exercising the purchase option before expiration.Take my $50k and buy 1 4-10 unit apartment now and save to buy more later.