Lease option with buyer paying entire down payment

[Nate Sanow]

Just curious if anyone has successfully acquired a property in the name of their llc, taken an “option” as consideration for allowing the future tenant to purchase AND if that option amount was equal to or greater than the down payment needed to actually acquire said property in the first place?

I am asking because I am strongly considering doing this:

1. Buying a property

2. Leasing it out as a lease option to a specific individual with good cash but bad credit

3. Attempting to collect enough from the option to where his option actually covers my acquisition cost (down payment & closing etc).

In my mind, this could work. But would be nice to know if someone has done it.

Thanks