You can't use "rent credits" because the lease option will be reclassified as a sale and require a foreclosure instead of an eviction if things go bad.You have to use separate lease and option agreements which do not refer to each other.

I've done a fair amount of background reading on the topic, but am looking for a lawyer with experience structuring real estate equity/debt deals to help me draft operating agreements and promissory notes as well as provide some guidance on my Private Capital strategy.Thanks in advance for the recommendations!

Per the lease agreement, the tenants are responsible for rent up until I find a new tenant (which may be until the end of their lease term) but in a market like San Diego this never happens.

Minimum it should be the yearly consumer price index for your area.

The rents I am looking at is a minimum of $400/room for a 4/2 and 59 units.

I rentometered and spoke to property manager and think I can get minimum 1k/ side on each 3/2 after Reno.

If it was paid by the original owner and only the owner the State would release the property back to the individual.Before a property is sent to auction the State would then do a title search and to see who has the invested interest in the property.What's not exactly clear to me, is why I can't get the owner to pay property taxes with provided funds to avoid the auction, then try to work out an agreement with Mortage company. 

Review their management agreement.

I can't count the number of foreclosure sales I've attended that had short sales under agreement, short sale approved, just waiting to close and the bank slammed the door on it with a foreclosure.Because MA is a non-judicial foreclosure state and the banks are not required to disclose anything about the pending foreclosure, other than the public notice, it's nearly impossible for a short sale agent to know the status of a foreclosure and how much time they've got to get the deal done.

Seeking a free Washington State RE sale and Purchase agreement.