Key points are a) no bank qualifying (lease optionees usally have some money but damaged credit); b) low down (not a typical house downpayment of 10-20%); c) they can become homeowners.

So figure another $2K for advertising, hassle, painting and "other".Since I'd be re-selling it on my typical deal, I figure I can get $100K-$110 for it.

Insurance companies typically offer deductibles between $100 and $5,000 (I always get the highest).

Here's how that game typically went The "Investor" who had a 680 or better credit score qualified for 100% financing Stated income/ Stated Assets or No Ratio and for a brief time No DOC ( No verfication of income occurred with any of these programs.

., a "real" hedge fund and not something some hot shot with an MBA calls a hedge fund) you typically have to have a lot of dough....I mean a LOT of dough....But just Google some hedge funds and call them up & ask...or just check their websites.

I keep 6 months worth of typical expenses (including mortgage payments) in a cash management fund.

Typically I think it's 25% of the selling side.

In commercial RE, you typically use annual figures when running the numbers.

You will discover that after a typical housing boom, it takes about 2 years to reach the bottom and then another 8-10 years for inflation adjusted prices just to reach their previous highs.

So while I'm not going to say whether or not you should go through with it, I'll try to provide you with some things to consider when making your decision.Pros:You can get the payment off your booksYou can sell the property for full price, when it doesn't appear that there is much interest right nowAssuming you are requiring an option payment (which I would suggest), you will get some additional cash nowSo basically the Pros can be summed up in that you have the potential to do pretty well financiallyCons:Lease options typically require less landlord hassle, but at the end of the day you are still a landlordThey could trash the house and then not buy itThey could stop paying and make you evict them, costing you time and money (there is also the possibility with lease options if they aren't structured properly that the courts could deem them to be a sale rather than a leasing arrangement in which case you would have to foreclose instead of the less painful eviction).