I base which one I'd recommend off of the deal.

I can't say there's a book that gave me much insight on specifics, mostly because the structure of so many deals is based on the market that the property is in, and regulations change so often, a book of that nature would become obsolete fairly quickly.

well said Kerry@Joe GarbarczykLease options and subject to are for pretty houses that are pretty and there's some equity at least 10% The only comment I would make is, if the seller would take $55,000 and they owe $68,  you would not get clear title to the balance to the bank and most probably back taxes  Make cash offers based on net equity 

Also, with Cap Rates, is it assumed to be calculated based on Purchase Price or Fair Market Value?  

It is reasonable that basing everything on the existing "lease" that will automatically go into effect based on a daily proration (I.E.

I have market rents at $1100 based on the condition and size

I'm new on BP, just learning the ropes, so the above is just based on my own experiences of traveling in the US.

Purchase - 167KNOI - 16,9411st - 80%LTV  - 5% - 15YR - 1.34DCR (If no second)2nd - 20%LTV - 8% - 20YR - 1.27DCR based on the income from 1stLeft with $75/mo - Not much, but it's still in the black.  

I would definitely recommend for you to get your license if your debating it, it’s not a difficult course and it can be done after work.The base knowledge you get from taking the course is really valuable.I took courses after work at a Coldwell Banker branch ( Oak Brooke) and the teacher was amazing.They offer very flexible hours- I personally took the night class ( 6-10 pm) 4 days a week, for a total of 90 hrs.

Only Redfin obtains listings directly from MLS because they are registered as a broker in each county they do business in.Most techies do not understand that real estate is a relationship-based business.