Due to the many regulations I want to close these strictly with an attorney. 

The court must first determine whether the optionee has equitable interest, and that all newly implemented procedures regulating placing a lease to own tenant have been followed.

However, it's not the wild west, business transactions are covered under federal laws, the Uniform Commercial Code (UCC), Security Exchange Commission (SEC) are usually the most applicable to real estate investors but there are various federal rules, regulations and laws that may apply. 

You are dealing with a Government entity that at best is semi-responsive. 

But, government meddling bugs me, just because I'm a tax payer and I don't trust them, and I know this isn't about safety, it's about cash flow for the city. 

I don't know what the laws are governing lending in Colorado, maybe someone else that knows more can weigh in @Jon Holdman @Don Konipol  You probably need to have someone that is a broker handle this for you, and you may need to be an accredited investor, etc.

Dignowity and Government Hill just east of downtown SA are interesting areas that are getting push from the new Alamo brewery and other east side development projects.

There is no wholesaler fee included - I have the GFE and while the origination fee is around $2,000, the other settlement services include:Appraisal and Appraiser Management Fees ($550)Credit Report ($200)Flood Certification ($5)Government recording charges ($62)Title Services ($818)Title Insurance ($265)Escrow Deposit for taxes/insurance ($400)Homeowner's Insurance ($600)That really kicks it up.

BTW...you can still do these types of contracts, it's just heavily regulated. 

It couldn't be vented outside due to city regulations so I had a Condensation Dryer.