Bryant Schur you are very considerate.

You can look at it two ways, building of big apartment buildings means that the town is due for growth and will be drawing in a lot of renters and you may be able to charge a good rent, not everyone wants to live in big buildings and would rather rent smaller places but be by everything. the other way to look is that the market will be over saturated with rentals and yours would need to stand out, how do you market it, do you lower rent to draw the people or do you fix it up and heavily advertise it to try and stand out. i think if you invest in those areas you need to upgrade and advertise, appeal the class of people they are trying to draw to the area, may be worth finding out who the developer is and asking them what market they are targeting, if they will share with you that info.

I have a tenant who's brother came over and did considerable damage to doors and walls.police were involved. landlord rights and tenants rights were to go with this.any info would be a great learning tipIn Rhode Island

We are still regarding conventional and private money lenders in that consideration factor?

These numbers will draw attention to not only What Changed, but areas that deserve your attention as an asset manager (not just a landlord).I've run almost a full decade with a 32% expense ratio (yes, self-managed) and only in the four years did extraordinary circumstances arise that really had an impact; fire and adverse eviction with large damages.Hopefully you ARE tracking GSI and NOI changes, so don't neglect Expense Ratio (yeah it's obvious that expenses are withing NOI, but the ratio will tell you why your GSI increase didn't achieve your expectations in the NOI)

What other considerations should I be making/being aware of when it comes to Lease Options?

You may have to get re-draw a lease with the tenant. 

With any entity consideration, it's always good to consider things from 1) Insurance, 2) Taxation, 3) Legal, 4) Financing perspectives - would be fun to get your attorney, insurance agent, banker/mortgage broker and accountant together in a room and get the lowdown on S-corps, LLC's, trusts etc, to see how they consider each of these from their viewpoints!

There is considerable crime and the houses are usually in reasonable states of disrepair.

By no means am I saying not to do it - just make sure that you take everything into consideration.