These are professionals with additional training and a stricter code of ethics.

@Calvin Rankin Highly recommend you and your wife speak with both an attorney and a tax CPA/EA before you do (or promise to do) anything.Why willingly make someone else's problems your problems? 

Get your personal finances organized into a folder with your tax return and a personal income statement and balance sheet.

Seriously though, we own 17 rental units; a five plex, a four plex and a house with 6 cabins on a single property in Eastern Washington.

With gale force winds outside and an hour and a half drive one way, I opt to bid without even driving by. 

A second late payment is followed by further training and a ultimatium. 

If they do exercise their option, the lease contract is terminated and a new owner finance contract begins with monthly payments of $1K/month (same as lease agreement) and a balloon payment for the balance is due on the 24th month. 

However, the sponsor should have provided you with their projections/estimates/forecast of the property's cash flows, and a sample return on your investment (by year).

It's something to be aware of, and a reason to see recent payment history if the building you purchase is tenant occupied when you complete the purchase and close.  

And if one year you unexpectedly need to replace a roof and a furnace, that place needs cash instead of generating it.So I'd be curious about how much you have to invest and how much you need to gain in monthly cash flow.