Another advantage of the lease option is you get to keep the tax write off until they exercise the option and buy the property outright. 

I’m an exercise science major and I plan on joining the Air Force after I graduate.

If the 1st mortgage is not addressed, the 1st mortgage lender can exercise their rights and foreclose.

I am going to exercise these tools, and give it a go.

What about - Eat better and exercise.- want a better relationship with God?

I have heard that in executing a "Subject To" contract, the Title Company must send the Lender a "7 day notice" that notifies them that a change in ownership has happened and that they can exercise their "due on sale" clause. 

For some it may be meditation, others exercise. 

If, however, the owner quitclaims the property into a corporation where its stock, shares, memberships, or other equity interests are not wholly-owned by the owner, then a Form 107.9 endorsement would be required to name an additional insured.”Here's an extended post I've made other forums that you may want to also consider and want to research;Regarding the transfer of a property to and LLC; The lender can exercise the "due on sale" clause if the name(s) of the buyer are not the same name(s) as the members identified as the owners of the LLC.

I'm thinking I could set it up so that the actual purchase price is 5k but can not be exercised until after 60 month lease. 

As a new real estate investor, I am working through the deal analysis exercise while I grow my purchase funds.