Seeking advice on lease options

[Josh Curtis]

Hi, let me start by mentioning that I'm very new to real estate investing, and have yet to purchase a property. As a veteran, I had planned on using the VA home loan guarantee to enter the world of real estate one property at a time, with a new purchase every 6 months or so. However, with the very real possibility of a real estate market crash in the wake of COVID-19, I have had another idea that would be much more quickly scalable, only limited by my ability to secure financing. My deal strategy mostly revolves around a lease option. While I understand the basics of a lease option, I was hoping to get suggestions and advice from anyone who is experienced in this type of deal.

I'm not trying to use this as a means to bypass my own research and learning, but would greatly appreciate suggestions for any books (or other sources) that specifically pertain to this type of deal, advice on any considerations that I might need to take into account or pay particularly close attention to, or anything else you can think of regarding lease options.

By the way, in each of the potential deals, I would be purchasing properties that I would then be offering lease options on. These properties not be in a position to be acquired through a lease option. Just thought I would mention that, so you know what approach I'm utilizing the lease option in.

Thanks!