Well I’m new to the idea as well but to me the hard money lenders that are a little pricey are open to up to 90% LTV second lien.I just feel both of those 1st and 2nd lender interest rate will be madness.

It's going to cost about $550k to build and it has already appraised well over $800k.

For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.

Another exit would possibly add 5 more wells and sell individually after renovations..Sorry for the long post but I'm hungry to get started and feel like this can be helpful Central Florida

They got a good deal; I wish them well. 

There are new laws being implememented in some states as well. 

The primary reason I am looking into this option now, is to prepare for future scaling as well as prevent items from falling through the cracks.

Anything over 30 days is considered a long term rental, so you will need a lease, do background checks like you would with a LTR.You could do well with that strategy. 

Proof of vandalism could be brought to law enforcement as well.

I hope this finds you well!