Tenants have been vetted properly. 

However I do disagree with the characterization that "nothing moves quickly" - a quality rehab will go under contract quickly as long as it is priced and promoted properly.  

The roof was replaced by the previous owner but, I don't believe the flashing for the skylight was replaced/sealed properly.

Also, from a board and on-site owner's perspective, investors that move tenants in and out without notifying management, without following the proper move-in and out procedures and that don't explain the community rules to their tenants quickly annoy become a nuisance.

I haven't been able to execute the strategy yet as I haven't out much effort into it.

This process most likely will take you less time than first figuring out how to swing a hammer properly and then swinging it.

To my knowledge, lease options if structured properly are bona fide legal and you won't run into problems with DBPR, etc.

Sometimes it feels overwhelming especially when there isn't a proper support group.

There are also a lot of small things here and there.The seller has agreed to fix a lot of things, but is doing himself so there will be no proper or licensed documentation which makes me nervous.

That means becoming an expert  on an area, having a well seasoned team in place to act quickly ( realtor, lender, title and contractors) and having some balls to execute on the  right transaction.