Work out all the kinks on a easy deal.

Perhaps you can talk to your usual HML and see if you can work out a deal where they charge you less point or something to help you out, and maybe you can loan the money back to them during the time that the lien stays on the house (while you're waiting for your refi to go through).In your case though, you're only trying to optimize 5% of LTV, so the additional expenses of getting a real lien put onto the property may not be worth it.

I still do some work out in Salt Lake when I can find a good deal.

But closing costs are routinely financed into the note and at todays interest rates 5k is only $25 a month.  

My advice if this doesn't work out is to think about sticking to SFH until you get some legs under you.

@Don Hampton, it didn't work out so good for me.

So I am taking a chance on him, hopefully it will work out.

SureLease to own is a good strategy for sellers don't have a lot of equity if you read Gary Keller's book SHIFT he talks about creative financing to help sellers that are having difficultyYou have to be willing as an agent to act as a principle business owner, and tell your broker know that you're doing deals as a principal versus acting as an agentYou can make 3% as a option release fee, buyer or seller paysI love saying to the homeseller of expired listing"I know you tried to sell traditionally with an agent and it did not work out for you, but what if I can get the house sold for you, and maximize your equity, so that you do not have to pay a commission?"

I can run the numbers myself and make it work out, but I'd be running them on assumptions of what the rent would be, on assumptions of what the vacancy would be in the area, on assumptions of the types of tenants that rent the area.  

IN GA. we ran into the same thing buying court house steps law says 45 days it routinely took 90 to 120...to get our trustee's deed and of course without the trustee's deed we could not sell or encumber.. although it is common practice to take possession and even do an eviction in that state during this time.