Seems seemless.

Hard to say for sure of course but it seems likely rental markets will remain strong for the foreseeable future 

It keeps things straightforward and flexible for your house flipping ventures.

The calculation of how much this is - not so straight forward. 

It seems kind of rough, but it's beside UMKC, Brookside is close by, and there are some newer developments just west of it.

The industry is seemingly caught very off guard by the massive failure of NAR to communicate the potential outcomes and timeline of the agreement to its members. 

If I factor in additional $5,000 in upgrades it still hits a 30%+ CoC return....It certainly is not a grand slam, but for the extremely low barrier of entry, it seems like a solid base hit. 

It also can get challenging to set a price now to possibly buy in the future that the owner and you will feel is fair (with markets still appreciating at a healthy pace).You can also keep your eyes open for a seller willing and able to do a land contract with you (but there usually would want much more money down and likely want a full pay off in a few years, but can see what you can negotiate on terms).I agree nothing illegal about options/option fees in WI to my knowledge, but generally seem much less frequently used in single residential transactions than commercial transactions where due diligence and closing timelines may be very drawn out.

Be very careful about sending money to anyone who claims to be an expert in one of these forums or who has a website that seems to talk a lot about the "easy investor life" without much discussion of the very serious risks involved in the investment. 

@Vivan BhallaIt seems like you've done a thorough analysis of the pros and cons for both options.