Does anybody have any experience flipping this type of an arrangement?

But, Brian, I can arrange a very special deal just for you.

@Russ Scheider  appreciate the perspective...I am currently contemplating giving my realtor a break, she has been spending a lot of time showing me properties and making offers...sounds like you have a good relationship with your realtor.

We will do phone interviews and answer questions about the property and arrange to show it when it is ready.  

I may have no choice but to rent it out immediately during interim occupancy b/c I'm not living in it, sitting vacant.So I'm at a point right now of just contemplating and thinking things over...do I see a future for the area, my thoughts are all over the place.  

But assuming they DO NOT challenge..My question is - could the State of TX or other jurisdiction act independently of this harmonious arrangement and file their own lawsuit against me (the investor/seller), if they found something deficient in the contract?

I was also contemplating setting up a business entity and transferring the title from my current property to the LLC (or other entity) and then going after a CLOC.

See your attorney.If you are not required to have a contractor's license, yes, there are some places you don't, use a construction agreement and option.Having a contractor you can work with can swing the deal too.A JV can be done, more involved, but that's good too if needed.Can't charge a commission on a property you own without a license, just work all the profit in the price.These arrangements can get cross ways quickly if you have construction licensing requirements, even doing a purchase with a re-purchase agreement, it can be seen as contracting for repairs, so check that angle locally.

So I just listened to all the instructional videos that gave specifics details about navigation and usability of the page.In short, I think I got a collective total of 25 leads on Zillow and Craigslist and they all told me the were disinterested in a lease option arrangement.

I do one year leases, many others do month to month, depends on the market.The question is, how is this a mutually beneficial arrangement?