I have investments in Cleveland, a city with good cash flow but low appreciation. Recently heard about doing Lease to Own to the tenant. Benefits: Lease to Own fee at signing, cash flow, and maintenance covered by the tenant. Also, some tenants don't go through with the purchase at the term end, so you can do it again with another party.

Has anyone successfully done this, preferably in a region where the purchase prices are lower, like Cleveland? Please share your experience. Pros and Cons of the experience? What term of Lease to Own did you use? I have heard 7-10 years is common. Any other comments.

Thank you!

Hi, Kellan.  I've been doing various types of lease options for 20+ years, in various price ranges throughout the US.  The first thing I will say that as the owner the typical lease length I offer is 12 months.  Don't know where you heard 7-10 years, but that is certainly not a wise approach from the homeowner's perspective.