It appears you are talking about a Land Contract, not a LO. 

Not an order taker or a bank LO. 

Easier to just treat as a consumer loan from the start.CFD and L/O are executory contracts, and the state compliance issues are nearly impossible to comply with in a consumer transactions.

I am a new investor, have been learning a lot on seller Financing / LO investing. 

Despite being a LO for a local Hard Money lender, I'm always looking to get more knowledge and insight under my belt and love meeting new people interested in real estate.

If you do take the LO route, make sure you remember to NOT make the mistakes many do:1 - Don't mix the lease and the Option. 

Hi, I'm working in my first lease option deal. I am holding an open house this Saturday,  and I'll have the applications there as well as property description sheets. I just wanted to know when I find a qualified buye...

Based on the Title of this discussion, combined with the minimum $120k AP from the seller, I don't think either of the options you are looking for (LO or OF) are available.Have you asked the seller if they are interested in either yet?

of other threads on LO in Texas. 

I'm advertising for standard rentals rather than LO but on higher end properties I seem to get more leads through Postlet affiliate sites now.