Any reasons why i might choose the lease option over the owner finance?

This area doesn't work for me because I have a specific target individual in mind that I supply housing too and these people do not CHOOSE to reside in Joliet.

They show that more renters are choosing to renew their leases rather than move out and that our average rent and deposit is well above the local average.  

You can always choose to pay a higher payment each month, as if it were a 20 or 15 year am, but have the flexibility to pay less.  

We choose not to inflate a property's ROI by adding in anticipated or forecasted appreciation.

It would depend on what neighborhood you choose and if you're looking to hold or flip.

First I would choose a market, not based on the people but based on the investing fundamentals- will it be a profitable area, are other people investing there so they can attest to the quality of the area, do the numbers work, do you feel comfortable with the market, etc.

I am out of state in California and need help with choosing realtor and property manager.

You can raise it, but it sounds like you'll have a wider pool of qualified applicants to choose from at the posted rent and possibly find one sooner.

However, if you choose not to get one, it is perfectly fine.