Now with that being said ( OWNER FINANCE  ) is truly setting up a win - win situation for both parties.Just my two cents AlexBare with my rambling.I know there might be true rent to own but show me on consistent basis  where this works. 

I bet you won't let it get to the 25th of the month before you serve the notice next time. :)First thing you need to do is make sure your notice has the required information in it (i.e. name, address, and phone # of person to pay; exact amount of rent that is due; do not list any late fees in the notice; where and how payment is to be made; etc). 

Either way, everyone wins. 

 $20K seems to slim from an equity standpoint, especially if you're betting on appreciation.  

You can hedge your bets on the job by asking for a "not to exceed" bid.  

@Rose Davis your best bet is to approach an investor who you can bring value too.

@Omran S.Your best bet is to have a work history that supports the amount of money you want to borrow.  

I'm a betting man and I think you'll be looking for a refund of that $100.

I bet they made a killing there.Also I just thought of if you have family in other areas / states that you visit often you could look there or have them be on the look out for any good deals.

I wouldn't use him at all.Even if you're in a well populated area, your best bet is to go on a site like zillow and put in the address of the house you're looking to buy.Then filter for only rentals and see what they have in the immediate area.