We're looking to convert our current home into a rental with the option to purchase.Would anyone happen to have any thoughts, tips, recommendations on structuring a lease option?

HI - not sure if linking is allowed here but I just put out a piece on advice on this exact topic (https://www.biggerpockets.com/forums/517/topics/1196250-tip-...) - you should be OK but it would behoove you greatly to get some sort of documentation like a BPO (Broker Price Opinion) of the value now for use later in the refi!

It is a very competitive market here with restrictions all over the place. 

This can be a real money-maker, but you need to know what the risks are, how to mitigate them, how much to charge for rent, insurance requirements, and more.Honestly, the couple relocating sounds like the best option.Here's a tip: don't reject applications just because someone else started one.

I own a few properties throughout the Chicago suburbs and I'm looking for a new market.

Do they need some "sprucing up" ($2-3k) to get market rents or do they need more extensive renovation. ($10+k)- How is the building appear from the outside?

From making your own coffee at home to savy investor tactics, what's your favorite way of saving money that you've found very useful till this day?

It insures all types of risks but does do a nice job with rentals in many markets

These markets often offer better entry points and potential for appreciation.

To answer your question: As for my market (San Diego) there is such a shortage of housing that even with a steady population we have been near nation high in RE appreciation each of the last few years.