Option in the TREC form requires consideration because it is a separate right within the contract...the right to walk away for any reason within the time described, including negative inspection results.  

We will put it in the LLC for the short life of the Rent to Own simply for protection (we will still have 100% control and will continue to rent it out/pay all costs).We don't NEED to sell this property, so if he walks, we have $50k for doing nothing, so it's all good!

If all else fails, camp out in gym gear and wait till you see people walking toward the house.

@Lien Vuong am I reading correctly that in Boston (and elsewhere), a property owner can list via a Real Estate agent, a tenant can walk in unrepresented, and the tenant will pay the Real Estate agent’s fee?

If not walk awayB.  

You can put VLP right over any asbestos VCT tiles and walk away happy that everyone is safe. 

@James C.Run don't walk.

This is a single family home that either has a walk out basement or a split level house.

@John Clarkwhere families prefer to stay, safe to go for a little walk in the nigh time. anything above 10+ units. any comments on Cook county?

Loopnet.com has some interesting properties and I love to see what is for sale in my area, but I think I've been looking at loopnet for about 20 years and never ever found a property that was price so I (not my broker) could make a profit.The best way to find a property where you can make the best profit is by putting on some comfortable shoes and literally walk like a real man, unannounced, directly into real estate offices, make it very clear that you are INVESTING FOR DOLLARS, ask what they have for sale and they almost always have what is called 'Pocket Listings' that are properties their good clients want to sell, but they don't want to put the property on an MLS service for some reasons, or they want to see if they can sell the property, first, and then list it on MLS.Most often, the brokers pull something out and then comes the really hard part.