This will include the rehab of and resale of properties in our designated market with a pre-determined time frame and ROI.

I will then begin (with that personal capital) to purchase 2-4 unit properties (a predetermined amount each year) in order to have enough constant cash flow to feel comfortable not having a day job and pursuing "active" investing full time while my "passive" investments pull me thru the leaner months.

I always do explain to them that we will be either reselling their property or renting it out, but I don't tell them that hopefully I will have it sold before we close.There is no predetermined earnest money amount.

They always predetermine a title company, and legally the buyer has the right.

I have a pre-determined amount.Bird dogs certainly put up bandit signs, or mailouts, whatever drums up business.

They measure the miles to work and school and will not go out past a predetermined distance.

Either way, a price needs to be predetermined, determined by an agreed upon appraiser, or tied to some index.

I always thought a lease option was simply the option to buy at a predetermined price.

However, most buyers want to lock in the future purchase price upon inception of the lease option.During the term of the lease option, the buyer agrees to lease the property from the seller for a predetermined rental amount.The term of the lease option agreement is negotiable, but the common length is generally from one year to three years.The option money generally does not apply toward the down payment.A portion of the monthly rental payment typically applies toward the purchase price.Option money is rarely refundable.Nobody else can buy the property during the lease option period.The buyer generally cannot assign the lease option without seller approval.If the buyer does not exercise the lease option and purchase the property at the end of the lease option, the option expires.The buyer is not obligated to buy the property.Basics of lease purchaseBuyer pays the seller option money for the right to later purchase the property.

Also, as the time between my bids became longer (I was reaching my pre-determined limit), the bid increment dropped from $7500 to $2500.