Thanks Chris Boettcher for your input   on this issue , you are right that gives me  piece of mind.

A friend got a piece of land under contract that is in an area I would describe as: growing, nice for a double-wide and small home neighborhood (some trailers, but everyone mows their grass, there aren't any cars in yards, etc.).

I wanted to just come back and let you know a new piece of info I just learned from a video on tax shared with me by another BP member.

PiN is not worth the extra work that I have to do following up on every lead, because I can't trust any of them I have to manually verify every piece of data.

I had the other 8 pumps replaced in the summer, and the pumps themselves only cost me around $90 a piece!

One piece of advice I would give is, choosing a good business partner can do wonders for your business, choosing the wrong one will ruin it, so choose wisely

I have more equity in one piece of property than that.

It has gotten to the point where you just can't find a good deal on the MLS anymore and even many of the wholesale deals out there are not that good of deals anymore because everyone is trying to squeeze as much as they can out of every deal and/or jumping on a daisy chain where everyone is trying to get a piece of the action.I'm not trying to discourage you, but be ready for some stiff competition out there!

However, looks like you're missing the part where the homeowner (seller) gets a piece of that option fee, and what you're talking about is a variation from a traditional lease option, so you'll need to do things a little bit different to account for those variations.Look at it this way - if I'm going to offer you (tenant / Leasee) a 2 yr lease option at 200k:Leasee is going to make a down payment of $20k  (this can be whatever you negotiate).Principal is now $180kMonthly rent payments of $1,300 for 2 years.  

Is there a closet somewhere with the same flooring where you could "borrow" some pieces and then just carpet over the closet?