Hello all,This is my first step for my future investment.

Talk to him about your thoughts including the fact that you are not trying to step all over him.

It makes it easier to stick to a goal when it is in small, achievable steps. 

Domenic - 1) Yes the 100K is for the down payment and I will secure conventional fund for the balance.2) Yes the property is turn-key and is profitable already.3) The current actual cash flow will allow for a 15% return on the initial 100K.

@Ryan EllisI'm curious to know where you learned thisWholesaling lease options or lease option assignments should be done on an option release system First step is you enter into a lease an option with the seller with a letter of intent to sell your interest in the paperwork (or if an agent enter into a listing agreement for lease option)Instead of assigning the deal, you have the tenant buyer place 3% of value of the property in escrow made payable to a title co.You have the seller and the tenant buyer sign off that it's agreed that the 3% is a option release paid to youA new lease and option is created between the seller and tenant buyer (with no large option consideration)You could discount the house value by 3%Use a collection co to take rent and pay underlying note and mortgageHave tenant buyer go to bank and save 3% for downpaymentI would be licensed in FL as you are brokering.

Ned,Thanks for your reply and yes, maybe I'm over thinking this and I agree, I should definitely consult a lawyer, but I'm trying to gain as much knowledge as possible first before I make steps to pay for a lawyer.  

I am a contractor and investor and my next step is to get my RE license (and of course get $2m in the bank so i wont need any loans)

This type of project I believe has tremendous merit and I would love to be more involved in pushing these initiatives forward.  

The next step for me is to network; I figure I'll learn best from real stories, situations, and maybe most importantly, local market experience.

It is very important in my view to consider the relationship in working with a provider, turnkey or otherwise, as one that needs time and steps toward building trust and understanding.