I think if a person becomes OBSESSED with anything, whether it is money, food, work, collecting stamps, etc..., it leads to an unbalanced life.

Its getting to be a long time ago when I practiced law including landlord tenant.

Ru Monsell if you don't have the money to settle in 30 days buying at auction is not a practical alternative.

I considered asking for an option and auctioning on eBay but I thought I'd ask the collective mind here for guidance first.

If you aren't legal you'll find it pretty hard to collect back rents, evict anyone or act in the place of the owner in title. :)

And of course cleaning lint out of the exhaust ductwork is a good practice too.Fire extinguishers.

The product itself is likely sound, it's more a question of the specific implementation you have, and that will be dependent on the provider, your counsel, your business practices, your business itself, etc.Personally, my exit strategy was to have my c-corp dissolve and redeem the shares, which I rolled over into a self-directed IRA.

The seller might just collect your option money and rent and let the house fall into foreclosure.

Given your mortgage payment of $800 and your rent collections of $2,000 (with you living in the cheap unit not paying rent), you would essentially be living rent free.

Rent to own by allowing someone to walk in with practically no money and give an arbitrary credit from rents is just a bad strategy for many reasons IMO.