I've only been asked about earnest money from a non-represented seller maybe twice.Now noobdog, in reference to "land contracts", I'm guessing you're referring to a contract for deed, which in Texas is not illegal but new legislation has opened one up to extreme liability for selling a property through any type of executory contract, where the buyer doesn't receive title immediately.

overreactionary legislating and such.

I will always be open ears for a project proposal like this.I learned the developing process with land.

About 95% or more of the deals I see newbies proposing on this and other sites are not deals that are worth doing.

Do lots of people do this and I'm just in the dark, or is there some fundamental flaw with what I'm proposing?

In Texas, lease options are pretty much dead after some legislation passed last year.

In Texas because of legislation around other creative avenues, I will be offering them mainly through seller financing.

One technique for a new person in the business is to explain that they are new in the business, working thru college, paying for xyz to help out xyz, and are glad that they are starting out work with nice honest people like........yaddi, yaddi, ya.....After the story next is qualify....who, what, why, how come, how many, when, why not, ect.... this is where you gather all the info on the transaction you catch my drift.Next land Note: during the landing stage is where you begin to propose the offer, this is the same place where you remind them about all the bad stuff wrong with the house.Next is the Close....later got to go to work

Also, how did you come to your proposed rent?

The city is going to propose a inspection for all properties because many are not up to code, and I'm thinking these landowners might start dumping lots due to no intent of rehabbing.