Lease Option

[Michael Swogger]

Hello,

I bought my first home in October of 2014. I've decided I don't want to live there anymore and I've always wanted to be a landlord. So I was going to lease it out but then I heard about lease options. 

Lease options sound almost too good to be true to me so I'm wondering if I'm missing some partial element. I like the idea of money option that is nonrefundable. That makes me feel safe in the event that I have to evict the tenant. I like knowing that after the lease is up, the tenant may buy it, which is good for me, and if they don't buy it, I get to keep the option money so I still win? I understand if the house appreciates a lot during the time, then I may lose out on profits but I still don't see what's so bad about going this route.

Thanks, Mike