Oversimplifying it just a bit, the investor profits from:- a non-refundable option paid by the tenant-buyer which gives them the right to purchase the property within their option period- the spread between the rent paid by the investor to the property owner and the rent paid to the investor by the tenant-buyer over the life of the option- the spread between the price ultimately paid by the investor when they exercise their option with the owner and the price ultimately paid by the tenant-buyer when they exercise their option with the investorClear as mud?

I had a similar idea (having one of the mortgage brokers I know underwrite any prospective buyers.

I am looking for some help and advice on whether or not this property seems like a smart first investment. 

Hi, 
I am planning to create LLCs in Wyoming , Michigan and Georgia. Any trusted registered agent or advice will be highly appreciated. 
TIA

This is super helpful and I can't emphasize enough how this first sub-to purchase has been a lesson in "I don't know what I don't know." 

basically if anyone has any tips when it comes to researching plots of land in order to make the right purchase i would greatly appreciate it get with a realtor. we underwrite land at no more than 10% of after built value. in our market we build under the average new build value which is about 515k. we like to be around 420-450k and smaller footprint about 1500 sq ft with attached garages. we build close to urban core where everyone wants to live and net migrations match up. but suburban is fine. if you give more context I can help but in most markets land is a buyers market. most people aren't looking at it or buying it. 

The seller should not be expecting you to be the buyer, or surprised when you aren’t. 

I know a great agent in the area who helped my friend buy in Ogden and did a great job negotiating.

Also helping was a relationship with that bank (deposit accounts) and good credit. 

Hope this helps.