Am I wrong or smarter than the average bear?

[Matt Lyons]

I invest mostly in rural areas where tenants seem to be responsible, handy and work hourly jobs.  Most want a home but do not have credit to buy a home.

I recently bought a home for $42,000 (3 bedroom 1 bath) in a VERY small IL town.  I was going to flip it but instead I put up a For Sale By Owner with Owner Financing sign and post on Facebook.  TONS of interest.  I opted to rent to a couple who wanted to make it their forever home, here was the deal:

Basically a rental with an option to buy based on an attached schedule...so they put $5k down, then they rent for $700 a month PLUS taxes and insurance (which they pay me and I pay those so I always know it is paid).  They have the option to buy at anytime based on the schedule attached to the lease which is a 30 year loan at 11% interest starting at $70k...so every month they pay rent their option to buy goes down same as a loan would from a bank.  If they fail to pay I can evict them same as a regular tenant since it is written as a lease with an option.  They also cover all repairs, upkeep and maintenance...I pay for nothing ever, they treat it as if it is their home in every way

Am I really smart, or am I doing anything wrong?  Again it is a month to month LEASE with an option to buy based on a schedule I attached to the lease.  My return is awesome,  I have a tenant who does all repairs and fixes, I never have to go there and if it all works out I get a great return and they get the house of their dreams at a monthly affordable price