@Ryan Sanderssandwich lease options  are two basic arrangements Arrangement one is between you and the seller, and you can enter into a lease option with the seller with rights to sublease and sub option,  because the arrangement is between you and Investor and you're not living in it as a tenant or owner occupant, you can have rent credits applied towards payments to receive an option price that is attractive.Arrangement two is between you and the tenant buyer, where you can enter into a lease and give them a ROFR, the ROFR can be separate from the lease, there can be a consideration fee for the ROFRI like reverse assignments where I assign my interest in my agreement with the tenant buyer to the seller, generally in the form of a note or deed of trust,  so there's only one closing between the owner and the tenant buyer Example house is worth 250 and I get an option price of 220 and sell it for 250, the difference being $30,000

Do you know what kind of real estate investing you want to do yet, or still in the consideration phase?

I'm considering doing a full rehab by hiring contractors if the numbers and other considerations make sense.  

Basically any input from you will be great for a newbie like myself :) Thanks to everyone in advance for your time and considerations.

It does take some time to build a buyer's list, as well as time to put together your strategy to find great wholesale deals.As far as your considerations regarding SFH vs multi-family, keep in mind that there are more exit options for single family homes than for multi-family.

If it appraises for more, great, but I'd rather count on it not.Alright, here's the proposal I want to submit:$87,000 purchase price: I know this is closer to 75% ARV, but I figure that the seller is going to want some consideration for carrying the note.

I will considerate it!

(this is on the MH only no consideration for the land)  I buy mobile homes cash for on average 25k per unit.  

Anyways, as a way of introduction I wanted to pose a quick rental/leasing deal for your consideration and opinion.

IRR - Internal Rate of Return - is a calculation which takes into consideration the time value of money.