Also wanting to stick in my own backyard in St Louis and learn the ins and outs locally rather than thinking about turnkey properties out-of-state, which is enticing but not what I need at the very beginning of my real estate career. 

There are no barriers to entry (same reason why it appears enticing to you) and there are many negative factors that others mentioned.

The non-binding factor of the option agreement is enticing to me, but I am still trying to understand all the risks involved.

This can be extremely enticing for some owners who need/want to offload immediately and if they have a buyer on the table with a cheque (and maybe not conditions) verses another offer where there are financing conditions etc and the time it takes to satisfy those conditions and the risk that it may not go through, I have a significant advantage.

If they won't take a contract with contingencies, write an offer that uses a purchase option, but make the option period short enough to entice them into the deal. 

Quite often, the credit to use the in-house lender is actually quite enticing relative to what you pay for it.

◦Make sure the company does not entice you with a low management fee then nickel and dime you with miscellaneous and hidden fees.16. 

They use it to entice and advertise, it's a marketing tool.

As a young man, I too have been incredibly enticed by the promises of wholesaling.

In this scenario you offer a higher than market price to entice the seller to offer owner financing.