I would encourage you to get with someone who has a lot of experience doing lease options that will help you with your contracts so that you don't violate any laws (this is not a solicitation, just a suggestion).Good luck to you.

@John Acheson A lot to be considered here with that suggestion. 

I will also use the BRRRR process on this one after 6 months of seasoning.I am looking for some advice or suggestions on how to calm my nerves considering that I will have to carry the HELOC and personal loan 6 months while waiting on seasoning.

A friend of mine suggested I watch this. 

But ty th for the suggestion.

My suggestion would be to ask your trustworthy contractor. 

Also strongly suggest making a stop in the Telluride area if you've never been.In terms of property, you'll find an endless supply of small farm towns in that whole corner of the state you could use as a base - for the actual investing, there's not that many larger markets - Grand Junction, Durango, the I-70 corridor.

I was lucky enough to have a friend who had flipped in the past and suggested we not go for a 6 month loan on a rehab and to go longer because things can go wrong.

All suggestions and advice welcome.

My suggestion would be to repost a new thread asking the community if they can refer a top notch attorney in your area.