if you are lease optioning  from sellersIt's depends on what you're planning to do with the property once you have a lease option from the sellerThe common situations areYou are going to lease-option from the seller and then sublease and sub option, this is called a sandwich lease-optionSecondly, you are going to lease-option from the seller and assign the deal for a fee, this is called lease-option assignment, or cooperative lease options, or Wholesaling lease optionsLastly, what's common is that  you are going to live in the property yourself, and you want to rent and then own the propertyNow if you're going to be a Real Estate Investor, knowing the existing financing is importantIf the property has very little equity, for instance the ARV or after repaired value is $100,000, and they owe $95,000, there's only $5000 in equity, and that money can't be taken out of the house because it cost 10% to sell the house or $10,000When sellers see that it cost them to sell the house, where they have to cut a check at closing, they tend to look at all the possible solutions, like lease options, subject to, wraparound mortgages, land contracts, etc.I encourage you to have a good contract attorney so that when you have a motivated seller if you can give the sellers a cash offer if there is  equity and one or two terms offersRemember, if the seller is fighting you getting information from them, they generally are not that motivated to sellI generally get the details of the house mortgage when I do the walk-through, it's important not to be too nosy over the phoneIf you know how long ago they bought the house chances are you can guess how old the mortgage is, unless they refinanced the house@Steve Vaughan

The investor was the one in the trenches and had the better point of view to formulate a plan to make a soup-sandwich into a hero.

Whether it's a specific type of property, real estate professional, tradesmen, good sandwich shop, etc.

-Mass/Density of materials used is very important and sealing penetrations is as well-absolutely 5/8 drywall- if possible 2 layers with "green glue" or "quiet glue" sandwiched in between. you can buy quiet rock not sure of its fire rating so maybe only to be used in conjunction WITH fire rated drywall -drywall should be cut TIGHT to floor adj walls and ceilings. sound caulking should be used at all edges and seams and penetrations.

It was $688 at the time & I prefer it to our NG tankless systems that seem to have the proverbial cold water sandwich issues.

Only for rehab flip not sandwich leases.

It is a Sandwich deal. 

I would also recommend looking into an alternative route (i.e. seller financing, partnering, sandwich lease, etc.).

I've also started looking into sandwich leases, which I think might be more viable in this market.

Additionally my favorite niche is assignment of lease options with sandwich lease options as my secondary exit.Thanks in advance for your feedback!