Lease option exception

[Pete Schmidt]

After reading a lot about the lease option strategies, one thing I have not seen much about is an exception for home owners looking to do one or two of these a year. I understand if your are going to go into the mortgage business and begin financing people regularly, then you need to become a broker and get a license. However, reading over DF, the way I interpret it is that there is not any violation if I was to create a standard lease, then a separate option form that they can apply money to the purchase price, as well as an option fee of say 5% as long as the property is appraised and the sales price is within reason of the appraisal and they are qualified to make the payments. This would be written up by an attorney of course, but not sure what I am missing with this.