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. 

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

If you are working with a person who installs these for a living they might be able to get a better deal purchasing the water heater through a plumbing supply company.

Also, I've found there are a lot more costs involved in vacation rentals than you might think such as supplies, maintenance( people do not treat your home like you do) utilities, advertising, credit card charges, etc.  

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

The supply is low in the metroplex so they are moving quite quickly.

But most of the houses in a lot of Lawrence areas (at least where my property is located) are older cookie cutter homes, which just aren't going to go up in value much as there are ample supply of similar homes.

These programs are sold at any office supply store and work well for databases under 50,000 names.

California does have a regulation for that.