You have numerous RULES to live by, that your tenants may refuse to live by, (so write in the contract that they have to or can be immediately evicted)You have to keep all dues paid up, or you will be fined, and quickly could lose the place to liens and foreclosure.Minna's right, s SFD is a lot of work, but if the place is in good condition, and you have the insurances, it's not a big deal, probably.

They aren't illegal, but they come with numerous very specific and strenuous parameters to keep from being classified as an executory contract (contract for deed) in Texas, and as an executory contract, be liable for some extreme penalties (up to $250 per day liability from the day of sale).Now you can do 1 lease option per year and not have to worry about being liable for more than $100 per infraction, which at the most would be about $1,000.

If you have numerous lates and negatives on your account they will not allow you in the program.

That is an invitation to disaster.In addition, there is a LOT more due diligence that should be done on this property before you make an offer.Mike

That is just an invitation to problems.

I invited this person to our local REIA meeting.

In fact, I was just a few minutes ago at a friends house-he had invited me to see his place.

My advice is to plan on it being tough at first, but be patient with it, pay your dues and in time it will be rewarding in numerous ways.

I have done numerous searches here, looked through my emails from my BP keywords in both my inbox and delete folder and cannot find this sucker!!

Entitlement mentality (I'm genarlizing here) and the govt screws up enough stuff enough so why invite them further into the way I run my rentals?