Depending on the area you live in; house-hacking(purchasing a multi-unit property and living in 1) can be difficult.

It seems like someone with the best intentions in the world can get caught up in a situation where that "lease option" on that house they bought "subject to" goes bad, and now they're looking at a potential felony (depending on the state) if they don't keep up the payments.  

A 1 bed/ 1 bath is currently rented for $900, neighboring properties rent for $1200-$1/00 depending the condition of the unit.

It depends on what State and County your Sheriff sale is in to say how it works.  

I will need to talk to a lender for 90,000 just to be safe and homes similar to this in a 10 block radius are all listed at 120,000 and above, if I could shoot for 120,000 (depending on what all I have to do) which is a 30,000 profit bet in actuality I estimate 20,000 with taxes and closing cost and any other hidden fees.

Depending on how much work you have and the location I'm sure he can help.

They don't tell you what to do then, and that depending on the state and the number of these deals you have running, you're instantly a felon when you fail to make payments and the home is foreclosed on.  

With good credit conventional loans are around 5% depending on the lender.

It depends on where you live but enough for the down payment plus one of the most expensive repairs you can think of like a roof repair or minor foundation issues if you live in a place where this is common.

@Rudi D'escalarre it totally depends on the buyer.