Selling flip in Ohio advice needed

[Greg DuPan]

Hi all, this is my first post, been reading tons on BP.  I have a couple rentals and decided to do a flip this year.  Its just finishing up (next couple weeks) and one of my tenants approached me about purchasing the property.  They have the income but poor credit, and the tenant has already started to work with a local company to repair credit.  A 12 month lease with option would work perfect for this situation but reading on BP it just seems like a lot of risk to me (in Ohio). Also I would like to get as much out up front as possible but have read its normally ~5% for option. I would like more around 20% but then I will run into equity limits, so I may as well do a land contract.  I'm looking for any suggestions on how to structure this sale.  Purchased for 24K cash, ~10K rehab (and a ton of my time), recent sales of comps are ~55-60K.  Thanks in advance.