What if something went wrong with the deal and you got in a law suit for specific performance, and now you are having to go back and explain you werent the buyer after all?

There is a myth that the lease-option is easier to gain possession of a property where a buyer defaults, the L/O can be if everything goes as planned but if you get an optionee fighting you it can take longer than a foreclosure in a non-judicial proceeding.The target market mentioned, BK, FC, SS, folks are not really suited for such a short term, 18 month, transaction it depends on where they are in those circumstances.

When a few people started paying more then others followed suit and we saw a big jump.

I only know my area (NE Ohio), but from reading the many excellent posts on BP, it is obvious some areas are well-suited to specific strategies while others are not.

I really think that strategy would suit me well.

Has a suit been filed against you?

Yes, it's true, I always envisioned a restaurant in my dreams, but I realize that I am better suited for the type of business.I am glad to have found this community and am looking forward to getting engaged.

:)Earlier, seems someone said they asked thier attorney and was told something like, in all the years the attorney has been around there was only one suit that found a landlord liable enough for a million dollar award and that involved a death.

JD Mathieu, welcome aboard :) let me know if you want a copy of our deal evaluator spreadsheet - it's pretty straightforward, and you can alter it to suit your particular conditions.Best of luck, and you're absolutely right - take the time to learn more about the market before jumping in - don't let anyone push you to buy "now" or "here" - there's always a red-hot market somewhere, and the world's your oyster, particularly with today's technology and its implications for the savvy investor.

These may be illegal suites/units.As I side note, real estate agents are generally limited in what they can show you because they rely on MLS listed properties.