I felt the risk-reward was in my favor here, especially after stating in the contract that I can cancel the agreement for any reason during the first 14 days (which is also a law.)I've read the information on http://www.lonestarlandlaw.com/Lease-Options.htmlBut elsewhere, I read that some of these things aren't required.

If you have to borrow the 10k and it would affect your family if you had to pay back the loan on your own then you might want investigate it more or partner with someone giving them the risk and a large portion of the reward.

What makes sense for you from a financial standpoint (your financials...your risk...your reward). 

Risk vs reward? 


But at the end of the day, I value my time and if I am going to take on all the risk, I need to make sure the reward is worth it.  

ITs a risk reward scenario and you must be able to either do your own title search or like I said have a good enough relationship that a title co . will give you a date down over the phone which is 95% accurate or better.. then your risking 30 to 40k on a title issue if your in the bizz and lose well that's just the cost of doing business..

It doesn't always feel rewarding or the best path, but we know it is the right path for us for right now.

Hopefully, one day, I will be at a level of knowledge of my market(s) where I can take some of that extra risk, because in the world of investing, the greater the risk, the greater the reward. 

He is right of course that it COULD be a bad time to sell, but it's a risk to reward quandary and in that sense the risk now is relatively high especially if there's an aversion to loss and/or little equity.

It was fun to figure out, took a little bit to execute, and now reaping the rewards.