Do they have internal staff to value?

Is your work mostly on an individual basis or within internal teams?

“Option contracts have two components: (1) an underlying contract that is not binding until accepted; and (2) a covenant to hold open to the optionee the opportunity to accept.”

A balloon is only used for cases of owner financing, and since a "first right of purchase/refusal" or "option" do not contain a financing component, balloons are not used.Secondly, a lease purchase is not a guaranteed sale.

Something that helped me clarify what I should do with the property was learning how to run a projected IRR or MIRR (Internal Rate of Return or Modified IRR) for various holding periods to figure out when my best exit year is likely to be.

When drafting a purchase contract with the seller what are the key components of the contract and what contingencies should NEVER be left out?

I work with quite a few international investors.

Property ImprovementsThe last time any of the following was repaired or replaced: RoofWater HeaterAll AppliancesDriveway/Parking LotHVACFlooringPlumbingWindowsPaintCabinets/CountersStructure (foundation, framing)Components (garage door, etc.)Also, should I ask for this stuff before I even see the property so I can evaluate it with real numbers?

It would qualify under Section 121 of the Internal Revenue Code (i.e., the 121 Exclusion) as long as you can say that you have lived in the house as your primary residence for at least 24 months out of the last 60 months. 

I would love to find a mentor and/ or maybe do sum interning.