A lot of people get caught up in the academic exercise of learning real estate investing, but they never get to the taking action part. 

Despite having been told that all the vacancies are in "rent ready" condition, upon inspection I found that the amount of capital that will be required to actually get them rent ready will average around $1500/unit (x46 vacant units = ~$69k in required capital expense for initial lease-up).Because the low rate of seasoned occupancy will limit our financing options (particularly with banks and traditional lenders) we're considering the lease-option path; gain control of the property, lease it up, add value, get a loan, and exercise our option. 

An option is an automatic out because you don't have to exercise it if you don't want to, and if you find a buyer you just sell them your option.

But it sounds like this isn't a note, so that doesn't apply.The lease option tenant is screwed if they have been paying their rent on time and want to exercise their option.  

The purchase option agreement can have a deposit (5%-20% of purchase price) to be made by the tenant/buyers, a portion of which will not be refunded in the event they do not exercise their option.  

I once read that carpentry & drywall are some of the best exercises.

Recently got my RE license this past year, I exercise, and will be taking Spanish this summer when I’m off the school schedule (I’m a teacher; this is year3)Im from the RGV so I can get by but my parents do not speak it. it’s been a goal for awhile to get better.I have very low living expenses and try to put my money in fueling my RE business, building up my emergency savings, putting towards my Roth, travel (but covid), and future RE investing.

Supreme Court: It is the settled law of this court that the interdiction of statutes impairing the obligation of contracts does not prevent the State from exercising such powers as are vested in it for the promotion of the common weal, or are necessary for the general good of the public, though contracts previously entered into between individuals may thereby be affected. . . .

Here's a fun exercise* Look up a rental in an area and see if it would cashflow were you to buy it instead.  

On average I listen to at least 1-2 a day at 1.5x speed usually while driving or exercising, walking the dog, etc.