Often these two contracts are simultaneously executed in what is referred to as a Lease/Option or Lease with Option to buy.

I'd like to make some updates (we are contractors) and try to sell or this property would be good as an executive rental.  

The FHA loan program DOES restrict what an FHA mortgage will buy in such cases--you may not be able to purchase a home with an FHA mortgage unless it has been owned for a certain amount of time and the seller is the owner of record.Dina Boscio: (This would make it hard to flip and sell to FHA Buyer...But there is a work around)FHA loan rules in HUD 4000.1 state that the lender is required to verify that the seller is indeed the owner, and also to check the date of the owner’s acquisition of the real estateFHA Loan Rules Include a Time Restriction on Transfers of Title Check out what HUD 4000.1 says about buying real estate with an FHA mortgage and the lender’s requirement to compare the date of purchase by the current owner versus the date of execution on the sales contract for the FHA mortgage:“FHA defines the seller’s date of acquisition as the date the seller acquired legal ownership of that Property.

Ask to see the executed closing docs before sending your funds in.  

It all looks like luck to an outsider, but it take a lot of preparation to be ready to execute when the opportunity arises. 

Nobody in the industry can execute well on securities law, real estate, technology, data science, marketing, institutional financing, etc.  

We need money to execute, the lucky guys just show up to work and walk away with the money.

I previously ran nuclear power plants in the Navy, so my trend analysis and project management skills are hugely useful in helping me execute on my vision.  

Born & Raised in Cranston, went to college in Bristol, lived in EP for a while and work as an Account Executive for Lamar Advertising.

I just executed a lease option for a tenant buyer of one of my houses.