NOTE: If you do not exercise your option, you would lose all monthly saved option funding to the property owner. 

Court hearings revealed that instead of acquiring advertised properties, Scoutpads/MBD only purchased options on those properties and never exercised them!

Not a word normally exercised.  

Try not to tie-in substantial lessee improvements with the option exercise. 5.

This is a fun exercise 

Getting rent out of them isn't always a simple, pain-free economic exercise.

I will say, this is a huge learning exercise for me and I definitely wouldn't do it again in this way.

I would call it a "walk-thru bedroom", but also indicate it could be used as a flex space/home office/exercise room etc.

It's in a class that almost no one here on BP even deals with because the only buyers who will accept the low returns associated with such assets (and substantial higher risk IMHO) are institutional investors: large funds, insurance companies, pension funds, 1031 money etc.If we are just talking about in "theory" how one with bad credit, spotty job history, no cash available can take down a $21M deal then that is another, albeit futile, exercise. 

Every challenge is an opportunity to grow, like in exercise without resistance, sweat, and pain their is now growth.Best of Luck!