Lease Options

lease option, i understand , is when you can contract with the owner to lease the property with option to buy at a certain price and at a certain time down the road. you also can work it so that part of the lease payments accumulate towards the down payment. you can add some or all of the remodeling costs. people used to use this when their credit was bad and it gave them time to correct it. but if you do not get your credit fixed or can not find a partner all of your money is lost. now you have to make sure you have the power to sublease or have selling power and this is where you can do it as a no money down purchase but really leases require some money down, just now as much. usually like rent, first and last and deposit. not the whole story but hope this explains a little