A high percentage fail and thus are easily seen as a scam.My LO was structured in two documents to avoid the issue AND both the lease and the option were NOT ASSIGNABLE. 

You won't have to wait on inspections to get draws, spend time putting documentation together, or worry about timing when it comes to paying contractors.  

RocketLawyer has templates on their websites and you get a document free (I am not affiliated with them but have used their services before).

The property has an assigned REO Document number along with a foreclosure date.  

The 21 day time clock however started when the landlord got possession, either by declaring abandonment which take several weeks or going to court to get possession which can take months or just picking up the keys and documenting a defacto tenant move out/ abandonment.So yes, the landlord was obligated to mail you a security deposit accounting to your last known address by the end of the 21st day. 

@Jenifer Levini this is what I found: https://www.rocketlawyer.com/document/lease-with-option-to-purchase.rl

You just need to get the conveyance notarized and then file with the county.The thing you need to be careful about is the due on sale clause likely to be found in your deed of trust/mortgage documents.

There is a "Federal"" document commonality referred to as "For your Protection" get a home inspection.  

I called his attorney and he explained to me the lien amount (which I already knew) and that there was a possible mortgage issue from the 1970's that could be proven with documents from the seller or it not he could *override* it. i can't remember the exact term but the context makes me believe that what it is. i didn't want to sound like a newbie since it was the seller's attorney ;/ He offered to do the transaction for mebut my only issue is that my contract states that I would be given a 14 day inspection period.

Wayne & Natalie - I've been trying to confirm this issue for some time now and I fell across the attached IRS document and if I'm reading it right, page 17 exert b. claims that If i've lived in the house for less than 2 years, I can indeed prorate it by the number of days lived in the house out of the 730 days in a 2 year period.