Most of the community banks out there are strictly in the commercial space and real estate loans are a primary product.  

Sharing MLS accounts is strictly prohibited.

But, if they are living somewhere that is not so strict and they pay their portion of the rent on time and caused no problems, then I would consider them. 

I want to learn how to fill out these subject 2 contracts the legal way since I have heard that TEXAS is pretty strict.

Strictly semantics.

Because California real estate law focuses strictly on the definition of agency duties and the rights and limitations pertaining to the use of a real estate license, California law governing the use of a DRE license is only in control when one acts in the capacity of an agent.

Screen them with strict criteria (also covered in extreme detail for mobile homes in other threads) and you will be fine.  

They deserve something for all the hard work they've done to get the property into it's current condition.No matter what, please do your due diligence on whomever you purchase from...we don't work with a majority of the turn-key providers out there for a reason (granted, our standards are pretty strict).

I'm finding strictly investment properties with 20% ROI or better.

But until that happens, they are strictly renters, and enforcement of any contract falls under the state's landlord tenant law.If you're doing lease options the right way, you would qualify them similarly to a land contract - even though the land contract is a sale while the lease option is not - because its the right thing to do.