Lease Option Agreement: Is This A Good Deal?

[BJ Henderson]

I have just structured a lease option deal with a distressed seller on a property.

The seller has had trouble selling over the course of 6+ months due to the home needing renovations.

The property is currently livable and is located in a golf community.

The property is valued at 430k.

Sales price 355k

Option- 12k Down

Payment- 2300

5 year lease

Taxes 5k.

Rental rate in the area 2400-2700.

Would you do this deal?