If you overpay you will be in a world of hurt.Spring and the summer might go fast when you buy you need the flexibility to rent year round at great rates and still cash flow well.You don't buy based on getting a high market rent if you turn the lease at the peak of renting season.Instead base on conservative numbers and if you rent at the peak it's a bonus.

Cash is OK by me, gives me tremendous flexibility.

If I scaled my REI rehab business, I would hire a GC.I do have another job (business), but it allows me a very flexible schedule.

If the tenant checks out well then you can be flexible on the option fee if need be.3.

thanks for the replies...Steve...I think being smart in this case means having a lawyer draw the lease option or the contract up and making sure it's tight.I'm assuming a lease option is a flexible thing and I can mold it to suit the situation with the right know-how.

These are much more common among investors and, depending upon the seller, normally offer a bit more breathing room in terms of escrow duration and flexibility.

From a tenant standpoint there is a bit more privacy and you don't have someone living on top of you or next door to you blasting away their favorite genre of music.

Auctioning fit our plan for our house building odyssey-- we had a barn and a flexible plan.

Since he owes only a bit less than what its worth, the lender probably isn't going to be too flexible anyway.

Reporting rent may also provide a means to be more flexible on the deposit since someone with a very good score is less likely to jeopardize their score over a missed payment.I would think most tenants would welcome the rent reporting to their credit report.