. #2, the work-life balance is great and I technically only work half the year and while at work I have a ton of down time.

@Noel Challenger please educate me how you can do it - technically?

Technically the lease option fee and the rent premium should be placed into escrow or a separate account and held there until you are able to exercise your option.

Technically, you're going to have no problem as long as your lender can operate in Oregon, although having someone familiar with the area, norms, and players won't hurt.

Is there a way to show that she is technically "paying rent" so I can qualify for a high mortgage amount? 

Technically by federal law the lender has to give you a full pay off amount, as you are a successor in interest.  

My investment is technically into the general fund, so I'm not specifically tied to this deal, but I would have a debt claim against the general fund that is doing flips. 

I have also seen sellers not understand the process and list their home with an agent to sell, but technically the home has already been foreclosed on but they haven't taken possession yet. 

In your case, if you use borrowed money for the down payment and technically have no money in deal the COC is infinite.  

You definitely have a point.I'm just a person that I like to go on my own a little, and I deal with each situation different, and thank god I've had great success till now.and about the banks, well one thing about banks is, that they don't care as much as a landlord if you don't pay, (the biggest proof, look back to prior 2008), the reasonings are simple, first of all the underwriter does not feel the loss like a landlord does....... and also, the bank  has the house to forclose on and a landlord does not..... so as long as they follow the rules they are technically fine...the banks can only.