Theres a buyer I am in contact with that just wants to get what he owes and although i haven't talked about a L/O with them I wanted to see if it was worth pursueing at all.

Call me please you'll send out 6 offers within a week and do it with confidence...If you want to run an ad it's not a terrible idea but I would't spend a lo of money on it.

Offer a LO to my tenant.Ask $65,000.00$780.00 rent per month$1560 down payment (non refundable, first two months rent)$140 optionone year term, renewable for one additional year.$80 per mo rent creditAssuming they purchase after one year (which we most likely know they wont), using these figures would gross me $10100.00.Difference in rent: $3360Difference in price: $7100Consideration difference: $600Rent credit: -$960------------------------------------------- Gross profit $10100.00Seller gets her asking price, doesnt have to lose MORE on her investment and $80 a month cash flow.

I know just enough to be dangerous on LO so bare with me.

That makes it clearer for me along with the expanded answer.If you don't mind my asking... do you assign your LO to the Buyer or do you assign the Buyers LO back to the Seller (the technique that Joe McCall uses)?

Joel Owens is right that many people get so far down the road before the LO verifies available funds.

I heard from a LO that Farmers is investor friendly.

I did a reply about TX LO's a while back that I'll hyperlink here:http://www.biggerpockets.com/forums/83/topics/67303 Hope it helps.

Are LO's and Sandwich LO's legal in MN?

I thought the L/O strategy would be more simple to start off with instead of flipping REOs or HUD houses.How did you find sellers that were willing to do a L/O with you?