So while I'm not going to say whether or not you should go through with it, I'll try to provide you with some things to consider when making your decision.Pros:You can get the payment off your booksYou can sell the property for full price, when it doesn't appear that there is much interest right nowAssuming you are requiring an option payment (which I would suggest), you will get some additional cash nowSo basically the Pros can be summed up in that you have the potential to do pretty well financiallyCons:Lease options typically require less landlord hassle, but at the end of the day you are still a landlordThey could trash the house and then not buy itThey could stop paying and make you evict them, costing you time and money (there is also the possibility with lease options if they aren't structured properly that the courts could deem them to be a sale rather than a leasing arrangement in which case you would have to foreclose instead of the less painful eviction).

It's clean, but keeping the place in show condition is a pain in the @55...I'm completely new to this so please bear with me :)Our PITA on the townhome is about 815 / monthOur ITA (is there such a thing?)

Rates and points will be painful.

Groups are a pain and want many bathrooms and don't want to live in a perfectly good house if the local cops are anti-noise.

I am actually a psychology major and a social work minor.

I haven't been steady in the gym since I had one in my condo building 6 years ago.I feel your pain, brother!

These days, in many areas, you'll have to give some seller concessions, so figure another 2-3%.If you're wholesaling, you'll also want to include your fee.So, with all that, you can back into the maximum buying price.ARV- sell closing costs (8% of ARV, up to 11% with concessions)- holding costs (hold months x monthly costs, ignoring painful surprises)- buy closing costs (2% of buy price plus points on loan)- rehab costs- whole sale fee= maximum purchase price

(our neighbor and supposedly a pastor with his master's degree in psychology - Vanguard University).

And they will be a pain in the rear to actually get to finish up all their pieces.

I look for institutions that will keep people in that town in a down economy for psychological, sociological or religious reasons.