You plan looks good except you should just be offering your LO Purchase price as the amount owed by the seller or the current market value, or less. 

That product is is specialized make sure you work with LO that knows the product.

Shannon French if it's something beside a CA, let us know...I've done CA's exclusively for almost 10 years, I guess people call them different things....CA's...LO assignments....wholesaling LO's...and now...Link options....maybe I should rename it.....paymykidscollegefundoptions....payformytriptocostaricaoptions...hmmm...not very catchy.....how about...Leasing To Buy???

Thanks guys for the response.Actually my neighbor's property is perfect for an L/O deal.He's been renting out the property for like 2 or so year's.Over the year's the tenants havent done a very good job taking care of it.The owner lives out of state,because of military orders.He offered the tenants to purchase the property,but they turned it down.I talked to the tenants asking for the owner's email,and never gave it to me.Now I'm just waiting for a sign to be put up in the front lawn.

Most L/O deals put some or all of the repair/maintenance burdens on the tenant/optionee. 

I think they got caught with a bunch of loans that were priced too low with some inexperienced LO's causing some bad reviews. 

--Day 1:  called and tt l/o regarding refi of Quad. 

A: Only the owner can L/O the property.

What you're looking for is a real estate attorney, not really a L/O atty, they don't specialize in such a narrow area.Might explain too what you need to know about a L/O, they are fairly simple and there are many sources here.

I like LO's, wholesale and sub-2.