The problem has nothing to do with any jurisdiction or the legality of such an agreement, while there are limitations in Texas, I'm under the impression no other state makes any requirement concerning seperate agreements.As I mentioned above, I did say that when there was a sufficient down payment a one document L/O could be used but that if it was less than 10% of the purchase price they should be avoided if credits are given.In most all lease-options drafted as one agreement that I have seen they tend to provide credits from rents toward the purchase.

Brian knows much more about the L/O than I, but normally the $10k option money is Not refundable.

Lo and behold, once in a while you hear a story about a CASH buyer having to pay a HIGHER price for the car, and that's why.

That's a bad LO situation if they made you do it at 25% down. 

As an LO for such a company, my job was to analyze a huge number of deals from rehabs and GUC to rentals and rental portfolios and a good bit of large multifamily.

I recommend networking at lo Real Estate investing Meetups, there are several good ones in our area.

you are assigning a LO to someone else?

People buy/sell on lease option contracts (i.e. the Joe McCall, Wendy Patton, etc) either as a sandwhich lease or homeowners just choosing to sell or buy on a LO. 2.

The most IMPORTANT part of ALL of this is to make sure you are working with a loan officer that has the experience and know exactly where to take your loan to make sure you can  ADD back expenses or the LO runs it up the flag pole upfront with the lender to get the green light.  

@Jim VoraCraigslistFind a listing agent willing to list it on the MLS for a flat feeSocial media - Almost all of my Sub2/LO sellers and RTO buyers come from local buy-sell-trade Facebook groups!