Ok stupid question from a newbie here, what is the difference between a LO and OF? Or are they the same thing just different wording? :-\
not a stupid question. LO is a lease with the option to purchase at a specified date, specified price. owner finance is just that, the owner is financing the note as a purchase, either with property owned by them free and clear or using a wrap around mortgage (wrap) where there is already some sort of financing on the property that is in their name or someone elses (common on subject 2). they will make money on the margin between theirs and your pmnt, and usually when the buyer refinances.