The guy is extremely unrealistic and will have trouble selling this property, especially since him and his wife are moving out of state soon, I believe he will realize this quickly.

Otherwise, it's a loan and will count against your debt to income and you will not have produced your own funds for a down payment if one is required for the program.

Using lease options as financing devices with Dodd Frank coming into play on Jan 10 2014 will get you into Federal trouble, not State.Use a pure lease and pure option will not.Good luck!

I just think it was worth mentioning that sometimes good intentions can be met with bad results and a slippery slope will form where you could find yourself in trouble.

They can cause a lot of trouble for you if they get ticked off and see an attorney.Then start over with an attorney.If you can get out without losing money I'll be very surprised.I'm not jumping your tail here, but this is the type of thing that happens when people just read strategies, guru books, listen to unknowing mentors or take off on their own as if RE is like selling a car.

For individuals still having trouble finding deals, I would actually counter what others have said.

….that is exactly why I am cutting all unnecessary things out…I want to put every extra dime I have into income producing assets !!!

I believe two hours of the constable's time is included, but he just hangs out to put down trouble.

I generally will rent to almost anyone if they can produce first month, last month and a full deposit.

You get one of these people upset or cross with you and you'll be in a world of trouble.