It is a two level home that currently has 7 tenants in it and will continue to lease the property out after we leave.

Here is my dilemma:I have a property in escrow right now and am wondering whether to wholesale for a lump sum, or purchase for cash, rehab and sell on a lease option.Here are the numbers:ARV 90kPurchase Price 37KRehab 20kAssuming my money partner refis for 65% LTV; and sale in 3rd yr, after all is said and done here are the numbers and cash flows rounded:Period 0 – (-$57,700) Period 1 – $72,000 (Because of Refi & Cashflows)Period 2 - $6400 Period 3 - $31,000Total – $51,500NPV Based on 25% Discount Rate - $19,700Basically, because this is a no money down deal for me I will be receiving only 25% of all benefits.

You can't really lease and have an option that gives you any rights to rehab the property, not a good way to go.

We'll surprise surprise there are many home rentals listed but 97% are listed through a professional rental leasing companies, not the homeowner.

Again, highly leveraged deals have little equity, that leans to leasing.

There is lots of building/construction going on in this area.The idea I floated to the agent is this. 10 year lease option.

I'm hoping to get at lease 1% of the purchase price as monthly income.I have never been to Indianpolis, but I'm planning to take a week trip to Indianpolis, any area I should check out for investment purpose?

My leases run from 3-6 months at the longest.

Once set, this home is deeded as Real Property and is considered a stick built home for tax purposes.Whenever possible, avoid buying a home on LEASED LAND... you have little/no control over the cost and what you get for the money...if you can buy a lot and place a home on it, you are better off...Hope this helps...

Any questions on apartment buildings or triple net leasing just ask.