Indulge me in a thought exercise: Imagine several scenarios for yourself 20 years in the future: one in which you find a way to work, save, invest, and grow, and another scenario where you essentially do nothing for fear of failure.

I exercise. 

A "feel good" exercise?  

This way- if it ever comes to fruition, and the lease option tenant exercises his/her option, you will lock in the specified sale price that you created in the Option agreement ( property must appraise of course).

It’s a great way to learn more while doing other things such as exercising, driving, etc.Get involved with a local REIA groups.

If you could find a part time or summer gig as make ready person helping with apartment turn arounds, then that would be ideal, too, for a future landlord...of course, listen to podcasts in the car or when exercising..and if you have a target area, start studying the neighborhoods and listings.

It’s a great way to learn more while doing other things such as exercising, driving, etc.Get involved with a local REIA groups.

At this point I'll chalk this up to an exercise in "doing the math" rather than going forward with the bidding process at this time.

If your return is not that great, think of it as a learning exercise!

Sure they may handle snow removal, lawn care, etc, but be careful about allowing them to make capital improvements to the property as they may be able to claim an equity interest in the property even if they do not exercise the option to purchase.