At one time this was 100% me - finding deals and finding the money after.The exercise of finding good deals where I couldn't close was very frustrating.Now I have more money than I can use as I changed my thinking.

Check out this duplex in Seaford, De214 E King St, Seaford, 19973 on realtor.com Just for exercise purpose run the numbers.

There are numerous things that can happen over the course of 30 days (usually the time between when we take the application and close) and many more things can happen over the course of a year or two when the leasee wants to exercise the option to buy. 

@James Wise My concern wasn't if they could read it in the lease they wouldn't do it because - let's be honest - you shouldn't need to read a clause in a lease to exercise common sense. 

I may have to get creative; I will certainly need to exercise more patience.Currently I'm paying rent to live in a duplex for $1000/mo and I was feeling rushed to start putting my money into equity, but surely it would be more responsible to take my time making the right choice on a good investment.Walkable as in East Austin?

I am not looking to get rich quick I am seeking the smartest way to exercise my freedom (moving out) at the lowest cost to me.  

Lease options can be structured in a variety of ways, the simplest and cleanest way is to charge an option fee and then rent, with a portion of the rent usually a fixed amount (ie $50 dollars a month or something) being credited toward an eventual down payment when they exercise the option to buy.  

I had a default clause in the note and recently exercised my option to collect. 

Not purely as an investment but also an exercise for my design and construction muscles.

There is nothing crazy about buying a $200k home for $175k(no agents) and selling it for 225k on a lease option and collecting on the spread by Option consideration, cash flow(not needed), and cash out when the end buyer exercises his/her option.