As an installment sale, the asset is owned by the seller until performance of the buyer is completed.

While I can certainly say my time is more valuable than using it for "semi-manual labor" tasks, for now it makes a lot of sense for me.

I know I need an accountant but have not found one I feel is a top performer.

Well, that wouldn't be an option it's a purchase agreement so I wouldn't go there as an option contract.Options can not have contingencies of any kind, especially based on performance of the optionee/buyer.The reason you have an option price in an option is for the right to purchase at a stated value based on the valuation made at the time of the option.

Example a buyer says they want multifamily but want a B asset in a B area fully performing at a 10 cap ( not going to happen as they trade in the high 7's nationally and maybe hit the 8's if your lucky ).

My friend works in a bank and they see but the loans are very rarely truthfully almost never called in because they are happy to have a healthy performing loan.

But therein lies the task of digging for the gold!

The HOA manager is tasked with maintaining the property and it sounds like that is exactly what they are doing.

For that matter, anyone who's job involves doing the same task over and over - whether its a manual task or a mental task - had better be figuring out what their next job is going to be. 

BP Experts,    I have a question about buying non-performing first notes.