What I find is the best situation for a lease option is when the person has little to no equity or is upside down... the place needs a lot of repair work that they don't have money for... they have no desire to be a landlord... and they don't need to buy another house anytime soon so it's not problematic to leave the loan in their name for the duration of your lease option period.Find that person in that situation and then your job is to let them know how the lease option solves their problems.

Im a newby, but it seems quite difficult to find the 1% property in the city of Houston without having todo major repairs (I dont have those connections yet).

I have a property that I am interested into purchase and repair, however I need to find a way to approach the owner, who has neglected the property and violations, and would like to make them a cash offer.

Something goes wrong such as big repairs, tenants not paying, etc, there's no other properties to help you through the rough patch.

(As I am in the process of repairing minor credit repair). 

Hey everyone,I wanted to post and see if anyone who’s more experienced than myself can help me understand rough estimates for painting, drywall repairs and cleaning costs for a rental on the west side of Cleveland.To give some general information, there’s some dry wall cracks, painting of the entire interior which is 850 square feet and deep cleaning of the entire interior since the former tenants left behind a fair amount of food and broken furniture.

The best way to feel comfortable purchasing a flip is to know that all of your numbers (after repair value, rehab costs, and holding costs) are as accurate as possible.

That covers lost rent due to down time as I do repairs, paint, etc in between tenants.

My concern is that the house is in need of major repairs. 

After the inspection was done it took them a month just to find contractors to do the repairs.