Option 2) If the money was burning a hole in your pocket and you had to spend it, I like this option better. 

In regards to your comment of tearing down a building and rebuilding: its funny you say that, i just got offered a burned up 7 unit downtown for about $100k.

@Brandon Poe you are right - the vast majority of agents lasts only a year or two and their "lifestyle" is typically burn the candle on both ends and talk to their clients at 11pm, or they are hobbyists and don't do much at all - under 5 deals a year for over 80% of licensees. 

Basically "burned the ships" as they say.

The area is flush with insurance money. 19,000 homes burned.

It's all fun and games til someone burns out your clutch or transmission.You also need to checkout insurance.  

But no worries, its not like its Saturday and I'm burning my weekend on this. 

Hi Aaron- I believe there are a lot of reasons why sellers need a lease option - people that have too much equity, people behind on mortgage payments, people that need to move and need immediate debt relief from the payment of two mortgages, FSBO people trying to save on paying commission, unwanted inherited properties.

Her to burn the house down ?

But it's super difficult and I've been burned a few times.