This is a great feature for those buying now and worried about significant rate increases.

I would like some honest feedback to this plan and also some different strategies to take in to consideration.

I am assuming by your numbers above that you either did some improvements to increase value or bought 30% under value.

California is the poster child for out of control government spending, constant tax increases and fee increases to pay the tab.. and people should pay attention, because as the saying goes, as California goes, so goes the nation!

Too close to the "evil" gambling and the threat of increased crime (whether true or not, the perception will detract) and any casino workers that want to buy to be close to work will be lower income people, so at best they will maintain market level (but based on my friend's income level, I think they will be a step down).What are BP's thoughts on the situation?

It says that the Case/Shiller housing price index is finally showing the first monthly increase in house price data, after 7 months of decline.

Since around 2010, and growing each year, more and more come due and since underwriting guidelines have become more strict, compiled with mismanagement and value reductions, the borrowers would need to come to the table with lots of cash to refit into a new loan, most of which don't have it, hence the increasing number of foreclosures and short sales.

I will tell you that in my opinion your offer gets much more consideration and taken with more seriousness if you do a purchase agreement without the lease/option route.

In July of 2012 we had foreclosure filings increase by 60% in major metro areas for Q2.

As Jason mentioned, try to get the expectations clear quickly up front.I have tons of "I don't really want the job" bids....Then, there are those that bid based on what it will be worth after it's done and the increase in value is what they want......LOL!