This layoff has happened and now you simply must move forward in the best safest way possible.With all that said I might be the only person here who does not think you should jump into this "free home" deal.

also he says they are "ignorant about the law" for thinking that you can not sell the property simply by having it under contract.

I inquired as to why anyone would want to be rid of a property like that and he replied saying that he simply had too many properties in his portfolio to manage. 

Unsupervised, the PR simply files a final accounting when complete.

We chatted about the deal, but the discussions didn't get very far simply because it would have required a good bit of my time invested (perhaps not *required*, but I'm a control freak), and I'm short on time for the next couple months.The numbers needed to be substantiated, but they weren't too bad (in my opinion)...

Thus, the gains from the sale may be taxed at a higher rate.The Seller:  The seller could simply renege on the deal when it comes time to exercise your option, leaving you with an expensive litigation option.  

It simply stated a broken contract would result in a $735 fee.

It simply "is what it is."

Every situation is different, so there may be reasons to simply bend over for them, but you are enabling and enforcing their behavior and making all the other landlords out there have to work that much harder to compensate.

. :) Yes, that is true enough.But my general point, which I realize I have made before and may be being a bit of a broken record about, is that state laws vary and a whole lot of advice on BP is not good, simply because it assumes that the law in the advisee 's state is the same as in the adviser's state.And Randy is quite right that many landlords appear to believe that their lease language is magic, and always controls, when that is not true at all.