It seems that I'm missing a very important piece of the puzzle and that is how exactly do I put a property under contract?

Most of the time these guys have never done the work to get something sale/rent ready and are just making educated guesses at a lot of the pieces to the puzzle.

As far as being misinformed, if you could point out specifically what, that would be great.....I know you are probably very busy but if you have a moment I am 100% open to your thoughts.I am new to a lot of this and am trying to put the pieces of the puzzle together....if you think I am getting too far ahead of myself, you may be right.Thanks.

Two are self-made millionaires, one comes from money.I feel like we have all the big pieces to the puzzle...I just need a LOT of advice as to where to go from here to put together the puzzle.

Also you did not answer whether or not you know what the market rent for the house is - that is a major piece of the puzzle.

The SAFE Act was the first bit of turmoil and seems to have faded as to being of much interest anymore with the implementation of Dodd-Frank.As you mentioned exemptions in some states as to the origination of lease-options I'm puzzled as the S/A specifically mentioned L/O and "Lonnie Deals" as being effected and that states may adopt similar law so long as it was keeping with the intent of the Act.

Puzzled Landlord......

Pulling comps is a tiny piece of the big puzzle. 

As with everything, you have to take a good look at all the pieces of the puzzle, as each has value, then look at what value you are bringing to the project.

My mentor, also my hard money lender, helped me put all the pieces to the puzzle together.