Or loan balance below minimum level?

I think there may be some room for balance.

As the buyer, it is the only way I would do it.Keep asking questions and engage this community, it is the fast track to proper education.PS.

A properly formed and filed Limited Liability Corporation can provide protection.

In my case, I'm assuming this account wouldn't exist anywhere on my single member LLC's balance sheet?

J Scott has given you the proper way to analyze a deal like this.

The good news, proper evaluation of any income generating asset is pretty straight forward.

I don’t have any debt – no student loans, no car loans, no credit card balances, etc. but I don’t exactly have a huge net worth either.Right now, my plan is to continue learning as much as possible and connect with other people in my area.

How do I get through the purchasing and proper funding to rehab a place?

The goal is to make an upfront profit, a monthly profit and a future profit without any money down or using any credit.Each state has different laws regarding Lease Options so make check to make sure it is legal in your state and you are using the proper contracts, also the benefit of an escrow/title company is they will be able to guide you but make sure you work with an escrow/title company that is familiar with The Sandwich Lease Option.Remember to be successful action is the key...Marv Rousselow