On top of that, the legal fees and time it takes to clear the property... 

The question is where the report states combined loan to value 89% and estimated equity $10,128, is that based on when the mortgage was taken out or is that updated based on the amount of the loan that remains unpaid + associated fees?

I will need to talk to a lender for 90,000 just to be safe and homes similar to this in a 10 block radius are all listed at 120,000 and above, if I could shoot for 120,000 (depending on what all I have to do) which is a 30,000 profit bet in actuality I estimate 20,000 with taxes and closing cost and any other hidden fees.

I notice these folks conveniently ignore what can go wrong when Bob pays your lease option fee, first month, and security, then loses his job 12 months later.  

HOA fees can have huge ranges, properties taxes can have huge ranges and can reassess after purchase, many FL properties are located in flood zones which can require expensive flood insurance.

I'd say based on what you said, I would do a 70/30 split (70% to them, 30% to you)Fees: they get all of the profit but various fees are paid out to you. 

Rented at 29k net(excluding all fees) so was getting 8.1%.

@Kenneth Foster I've heard of people putting in the mgmt fee and taking it out.

Jay, can you send me a link to their profiles.you will have to ask Mindy.. but I just got another PM from him  and it was from account closed.. so not sure how he / she managed that. still trying for that 800.00  which first was for PPI   private payment insurance then turned into application fee  

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