In my case I also paid a premium on top of the rent over the next 18 months which accrued to be my downpayment on the property at the time the lease option was exercised.

I'm interested in passive income and accruing equity for the long term.Chris Soignier Thank you for the SFH and MF comparison.

Just out of curiosity, how long was the rehab and did the previous owners/title owners just let it sit like that for the full 7 months?

Just out of curiosity, how are u determining rehab costs?

Out of curiosity how does this prevent mortgage fraud?

(also for my own curiosity)

Made a big life/work transition and had to accrue some debt and extra monthly expenses.

Just out of curiosity.

If the Property is leased to a tenant on the date this agreement ends and Owner terminates the agrement, an amount equal to the lesser of:(a) the management fees that would accrue over the remainder of the term of the lease or(b) One Month's rentIf more than one property or unit is made part of and subject to this agreement, this paragraph applies only to those properties or units then leased and applies to each property or unit separatelyLet me know your thoughts. 

This is because in those states you're not allowed to profit from deposits; meaning you can't put the money in your own account and accrue interest on it.