Anytime you do a lease option, this is your risk, the tenant can claim "equitable interest" The risk of a claim to equitable interest is due to the option, not repairs, not the amount of option consideration or anything else. 

Not sure if she's a reader but, if she is, maybe she'd be interested in Kim Kiyosaki's books, "Rich Woman" and "It's Rising Time" (Kim is married to Robert Kiyosaki of Rich Dad Poor Dad).

Was the actual "market correction" the rapid increase over the past few years to get to where we are now and we are just reaching the point of where we will see property values rise at normal 50 year averages??

@Sarah NguyenAnother consideration regarding deposits - Oklahoma law requires you to hold tenant deposits in an escrow account.  

check out the article if you are interested.http://www.prnewswire.com/news-releases/seattle-renters-need-biggest-income-boost-to-keep-up-with-rising-rents-300436419.html

I'll bet it's a major consideration for families (behind safety and school district).

Its in a great area, and values have been on the rise.

Good luck getting homeless and low income renters to organize and rise up.

and I'm thinking of taking it into consideration as it might be an easier source of income as opposed to building units and renting them out.I received a rough quote of $2.5M to completely fill the 1.5 Acres with solar panels.

These need to be taken into consideration on short plats such as this sounds to be. 6.