What I find is the best situation for a lease option is when the person has little to no equity or is upside down... the place needs a lot of repair work that they don't have money for... they have no desire to be a landlord... and they don't need to buy another house anytime soon so it's not problematic to leave the loan in their name for the duration of your lease option period.Find that person in that situation and then your job is to let them know how the lease option solves their problems.

Wow long does it take for you guys to find tenants and how long do they usually stay before leaving and buying a place of their own?

That leaves you with equity of $780k, of which you used $180k for an education and renovations. 

sounds like you're trying to get a personal mortgage for a property held in an LLC, this is not compatible.if you want residential mortgage rates, leave the house in your personal nameif you want to leave it in your business name, your lending options are restricted. apologies if I misunderstood and mis-answered.

May have to leave your home market.

I believe you can evict now based on the fact the tenant was already served notice by the previous owner but refused to pay or leave. 

If right, that means a whole year with not much going wrong and deferred maintenance that they are leaving for you haha.If wrong, they are lying to you, what else are they lying about?

You may also want to hire a PTM and require they visit the property via required maintenance agreement clause.You may also want to consider setting up a Phone System for your tenants to call and leave a voice mail.

But I really appreciate everyone’s advice, I guess I am going to have to leave this one alone.

Just drop me a note or leave a comment.