The VAST majority of these new investors fail in a short period of time, so again, there is no exercise of the option.

The vast majority of newbies fail in a short period of time.

The building inspector and I agree that no major work needs to be done, expect for adding a "landlord" electric meter, cost ~1500.

None of the major players have really even started yet.

If they ask for advice I will give it freely, but most people have major insecurity issues and I could care less about their ego trip or mine.

This is EXACTLY what causes the vast majority of new landlords to fail in such a short period of time.

The truth is that the vast majority of newbies fail in a short period of time.

The majority of this data will be in the Multiple Listing Service (MLS), which realtors and appraisers have access to.I agree with Mike that realtors and appraisers can slant this data, but I still think that the data they have access to will give the most accurate determination of an ARV.

Then i started to see and hear about people having major problems with these types of loans and foreclosure growth rates started skyrocketing.

The vast majority of lease option (and land contract) buyers never buy the property because they're really nothing more than renters to start with.While you're waiting for the lease option "buyer" (someone with bad credit but a big pile of cash) to show up and "buy your house", you could have simply been renting the house to a tenant.