Leasing a property to own - Flip while still leased? Possible?

[Travis Thornton]

Tulsa, OK

There is a nice property in an active area that's a lease to own.  They want 93k for the house. $1500 down, $975 a month. Homes around it have sold recently for 100k-150k.

Would it be possible/legal to take them up on the lease to own, then theoretically, put 5k-10k worth of work into it and sell it for more than the initial 93k while still leased to me? 

So again, theoretically of course, and for the sake of using round numbers, I lease to own it for 93k, invest 10k into it, sell it for 123k, for a profit of 20k minus closings ect.. 

Thanks in advance for your thoughts!

Travis.   

[William Hochstedler]

What is the nature of the "lease to own".  If it is a lease option, you can assign the option.  You can also find a buyer while you are leasing it, exercise the option and do a double close.  Also search for "lease option sandwich".

Be careful about sinking money into a property you do not have title to.

Hopefully @Brian Gibbons will chime in with more clarity.

Good luck.