Ex.

the major supposition is your counting on lease option purchasers to follow through.. most that do this know that you will have some follow through and some will leave and probably leave you with a bunch of cap ex.. 

Take a picture of the violation ( ex: take picture of the soggy garbage box and the busted drawers) save this in the event you go to court under a eviction .

And I'd then have a big fat mortgage.So after 6 months, I can cash out refi, have a mortage, and after PITI, account for property management, saving for cap ex, repairs, etc, I could cash flow $100 a month. 

@Rob BeardsleyI went with the lowest average rental rate for a similar property.Vacancy is 5%, Maintenance and repairs is 8%Cap Ex is 9% Property Management 10%

You are looking at trying to buy at a discount, ex. buy hershey bar for 3/4 of listed.

Ex: HML interest only is $3,000 a month.

You can also deny on habitability limitations (# of people vs # of bedrooms), a consistent no pet policy if they have a pet,  Megan's Law registrants, ex convicts on parole or Sec 8 applications if you do not want to do the work they request after their inspection.

They can't move out six months later and blame property damage on the ex-spouse.This document should clearly explain what happens with each party and then it MUST be signed by all parties to ensure it is binding.

In 2015, two significant things happened: first, my ex-husband went through the first of several layoffs and it became clear that I would not be receiving any support from him that year (or ever again, as it turned out).