In a Lease Option the loan is still in place but the Deed doesn't convey (change hands) until the Option is exercised.The differences are in how foreclosure happens in the event of non-payment and the underlying mortgagor has the option to exercise the Due on Sale Clause.

Our market is tight and competitive, so be patient, run the #'s w/ thorough due diligence, and exercise discipline in not overpaying just to get a deal.  

Thanks for the well wishes, but more so for the advice to exercise caution and the analysis.

BillNow what idiot is going to buy subject to the option unless there is very little chance of the option being exercised, and even with very little chance there is some chance.

I will give a seller concession for closing costs at exercise (vs 'purchase credits') declining the longer it takes them to buy. 

The example property that I choose for this exercise is linked in the spreadsheet, and also here:https://www.zillow.com/homedetails/301-Christopher-Todd-Dr-Moore-OK-73160/21724583_zpid/?

I'm not going to spend the time going over the numbers, but you're better off financially if you cash out equity and reinvest it in new properties.Here's a simple exercise.

It's a good exercise to go through to talk to banks and learn about the products out there.

Make sure you maximize your time with door hangers for the houses that don't answer.I remember how we used to fight over the houses that had christmas lights still up in the middle of summer.....lol, they were usually lay-downs.Anyway, it's great exercise and a good way to obtain top of mind awareness in a market area.

There is a great exercise I once read about in an article by Tom Hess, a guitar guru (I'm a pretty serious guitar hobbyist in my spare time) who writes a lot about goal setting.