Once you have an option to purchase the property, the seller can't sell the property to anyone else and if you chose to exercise the option the seller must sell it to you.The option should include a predetermined purchase price as well as a time period that it is valid.The buyer usually pays for the option, so consider the amount you would pay for the option and reduce the purchase price accordingly. 

Work will be paid after completion of the job or at specified intervals as predetermined by mutual agreement of owner and contractor, or upon receipt by owner of contractor's invoice.9. 

Terry, just want to make sure I understand you:Will your IRA be getting a % of the profits as a result of the flip or will your IRA simply act as a private lender and only receive predetermined interest payments (plus possibly some points)? 

Keep talking to people, and don't worry about predetermining who you will like.  

With a rehab it's a predetermined exit strategy.Capital is very important, so see if they are interested in being just an investor.

These are usually set up so that bids are accepted up to a certain predetermined date and then the bank chooses to accept whichever bid, if any, they like best. 

Before you setup your pricing, you will need to attend to some kind of startup business seminar offered by your state, for you to get actual expenses/rates for your employer tax, workers comp insurance, disability and unemployment insurance, costs that will really hurt your business if you don't use the right rates, and these may not occur instantly, sometimes 3 sometimes 6 sometimes more when you do your reporting, you will need to project this correctly as when you sign the dotted line of a contract, there's no saying that you forgot to figure in your worker comp insurance.The really tricky and optional topic is, estimating, there are a lot of things to factor in, but basically you end up of only one formula, Quantity x Unit = Total, but the encyclopedia will help you determine composition of each item, say a tile composes of 5-8 materials, not only tiles, but they generally have a predetermined amount/quantity for every sq. ft. of tile.Good Luck.

They guys said that before you make any moves, first determine how much you would like to make that year from real estate and then work your way backwards from there to reach that predetermined goal.

I agree with the article since every web web page that references the maximum charge landlords can charge states that the fees have to be actual costs and not an arbitrary or pre-determined fee. 

By you getting higher monthly "credits", will increase your ROI but will also, of course, help you cover all of your expenses, assuming that you have a pre-determined purchasing price in X amount of year that the tenants will buy from you.