The houses were their primary residence and they had to relocate which turned them into landlords because they did not want to list the property at the time, so they agreed to lease optioning the home with current tenant buyers that are not able to perform.

This is the practice to follow for all applicants who are self-employed or paid using 1099 (rather than W2). 

Goal would be to create a win-win of making tenants aware of solid fiscal practices (w/o being condescending) for a better life for themselves and indirectly also hopefully helping them plan to have money at the beginning of the month for us. 

I think using a script is an excellent practice at first.

I know laws seem easy when you read them, but the actual practices often are much more complex.

We are practically neighbors.

But I'm assuming that we can write the origination costs off as a "rental business expense" as it will be used to engage in rental real estate practices. 

I believe that area is gonna grow like a wildfire over the next decade due to the urban sprawl from all the people relocating to the Triangle area.There is a wealth of knowledge to be had within the pages of this website and plenty of experienced investors who will gladly help answer any questions you may have.

Its going to be much more interesting and will whet his appetite into wanting to put it into practice.

Hi Iris,Selling a property to a bigger wholesaler is common practice.