If they decide after 18 months they dont want to flex their option to buy, its even better for you because you keep every penny they spent on the house, and then you can start over and collect another fat payment up front with another 18 month lease option.

The house is location in Oak Brook, IL.In the end I went ahead and leased out the property.

Who did you locate?

With that being said, I have recently entered the real estate market and I purchased my first home to flip, located in Oldtown Scottsdale.

I'm located in the Dallas area and have similar questions.

Seeing as the borrower is deceased, the heirs could negotiate this, but the sunk cost and time of locating them only to be in a position to negotiate doesn't seem worth it to me. 

I live about 6 hours away from where my rental property is located and plann to invest in that area due to the price of single family units.For the no money down option for home purchase I'd look at VA loans if you qualify. 

I am looking at a property located in busy street.  

My family is in Vermont, so the goal is at least 45 minutes to 3 hours distance from their location.  

As far as renting location goes, I'm just looking for a good price somewhere in a safe part of town.