I actually joined BP before my hubby @jeffrey lo, but was just observing :).

Do not settle for ambiguous LO answers or a lazy approach to the workload.  

@Chris Salveson   You don't use a title company for a LO assignment... it's called a "kitchen table closing"There is no transfer of title.

(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?