(I'm going on the assumption that you are looking to do a L/O on a SFR)You (almost certainly...unless they do things differently in OK) need 2 Contracts.- Residential lease- Option to purchaseTalk to a local attorney and/or a trusted local investor versed in lease/options, then run what he/she gives you by your attorney.Alternatively, you can read the mountains of commentary in this forum. 

@Brian Gibbons Great posts as always re: LO - thanks Brian.

My goal is to eventually get a bunch of rentals but my wife does not want me to spend any of our savings so I plan on starting in L/OsSo how are hard are L/O deals to find?

My appreciation for what was shared was directed toward the explanations regarding the downsides of L/O.

No prob on the $200 rent credit, but I'd highly recommend to anyone doing LO's that your Option not refer to "rent credits" rather, just a total seller concession.

Alfred Bell - I would first just tell the LO's that the property is for sale (I would not mention the seller financing angle to start) by owner.

If you have never done a LO, I would NOT recommend doing a SLO...What happened with the friend you had that you were looking to get $45k down from a buyer?

You're a landlord in an LO and must perform like one, no matter you hear from REI educators.

Trying to work it out with my LO as we speak, but figured I'd get opinions from BP as well.

LO's take application, stack files and work with borrowers and investors with their attorneys underwrite, review and fund.