Typically, a lease option would not have enough option money involved to cover their commissions.

In addition, you need to consider the total dollars involved.

Having tenants in place may help with some lenders, but new Fannie Mae guidelines say the property has to appear on two tax returns before they will consider the rental income.You best bet is to find some local lenders and mortgage brokers and have a discussion before you get in too deep.

you need to make sure you have enough circulation/venting or your pilot will not stay lit.leave closet door open and i bet it stays on.a more permanent solution is to add additional venting in the ceiling area.good luck

If that were the case in your area (and I'm betting it's close), this property would have a retail value of about $120,000, less a little for the current depressed housing market.

Your best bet would be to learn as much as you can.

Initially I think buying wholesale turnkey properties is my best bet, get some experience with those, and then get more creative from there.

Call a bunch of title companies and ask them, they would know.You might or probably will get a lot of title agents have no clue what your talking about so they'll be like, "whats your number and I'll get back to you"if those words are mentioned, either hang up and call another title company or ask them if they can do WRAPS.Wraps are very similar to Sub2s and there is a chance that a title company will understand that.If they tell you NO you cannot do those transaction here in NM, ask them for the proof that you can't or refer you to their legal department to have them explain why it is not legal whether they call it a Wrap or Sub2You could also contact the Attorney Generals office, but your not going to get any straight answers there unless you can find an article or press release relating to Subject to's or 'creative acquisitions in real estate' detailing certain laws that they will most certainly cite in those press releases/articles.What ever you do, do not go to the department of Real Estate or any other agency that is obviously funded and structured for Realtors b/c they will tell you anything outside a standard typical transaction involving an Agent is illegal.Hope that helps

Jon, I did a little more checking around and it appears the double close is the safest bet for me .

Also, humanize the transaction by sharing the plight of the seller and explaining to them how they can really make a difference is your best bet!