I am a GC in Cleveland and this is exactly how I structure payments and schedules with my clients. 

@Matt Schelberg  just functional, physical and social obsolences at work in the market place.. its so foreign to us out here..

James J. so redevelopment can lead to profits from higher than the value of the property with the existing structure on it.

Physically only currently in Phoenix, Just starting in Las Vegas and soon Houston.  

Look at tax rolls for ownership addresses that don't match the physical address you're looking at.  

Their only caution was if I planned to add an addition onto the house (I don't), or add a second structure, i.e., garage or cottage ( I don't).  

One potential investor in particular has been going back and forth with me on potential ways to structure the business.

It's applicable to all corporate structures and not just LLCs, but the corporate veil law in Ohio is pretty business friendly.

None of the rent should go towards the purchase price with a lease option (rent to own is a marketing term for a lease option), unless the deal is structured as land contract, deed installment, or mortgage wrap.

In my county, I have to physically go to the Assessor's office to get it because the records aren't available online.