Execute a similar strategy 6 or 7 times in a year and you would double your $30K IRA balance.    

Expense:Mortgage- 648Mortgage Ins. 83Home Owners - 185Property Tax- 268.75Total=1116.08Income:Unit 1- 750Unit 2- 750Cable- 180Garage-75Total= 1755Cashflow--->638.92Sorry my spreadsheet didn't work properly!

It just means you have held a lien for the proper time and now you want to get your money back, with interest. 

I have read on some of the other threads on the Lease Purchase Option and understand how the concept works, but just wanted some feedback and direction on finding the proper forms and how to handle it so that as the owner of the property, I am covered. 

The more postcards you send out with proper frequency, the more deals you'll get.

I would recommend proceeding with a turnkey rental out of state as long as you have properly vetted the turnkey seller and the numbers on the house are good.  

Liens or encumbrances not made of public record or coverage as to area and content of land without a proper survey are general exclusions.

My investment group had worked with our GC for five years before we started executing equity plays with him.

Set up separate legal entities and manage them properly. 

You will not even know if whoever you hire will do the job correctly in the first place because you yourself do not know what is the correct and proper method of construction and you are not familiar with the materials available to accomplish the job.