Thanks,Joe Get an authorization letter executed by the seller, if possible have the letter notorized.

Sounds sketchy, but I'd ask for tax returns, executed leases and maybe even set up interviews with residents.

See the Option to Purchase Contracts Executed With Lease Agreements law for what is required.

More importantly, they must be able to perform on their action, which is if they say they will close and pay cash in (x) time frame then they will execute on their contractual duties.    

You have probably heard of executives of corps getting stock "options" same principal.  

Not surprising I suppose - these developments brought in a lot of first time, no $ down buyers and now AH is buying them foreclosure.From what I can tell, they have only executed one DoT in Guilford:3/6/15 - $552,830,000 - 144 houses - average borrowed of $3.8MM / house!!  

The one caveat is that if you have an executed lease you may be able to wash the payment but you won't get any positive credit for the rental income.

(According to my business advisor at the Goins group, most of the students fail to find good deals and it takes several Goins Group staff members a full time effort to find homes that qualify their own criteria.) 

Upon execution of this Assignment of Contract, New Buyer (Assignee) hereby agrees to pay Original Buyer (Assignor) nonrefundable Earnest Money in the amount of Five-hundred dollars ($500.00) and the balance of assignment fee to be paid at closing or same day as closing.

I'm currently learning as much as I can about the steps into this business and how to execute deals.