A lease option is always possible. There are many properties that have been in the market for a long time and they will be receptive to a lease option proposal. Many homes that are for rent might be willing to go for a lease option also. Nobody will accept a lease option without an option money deposit. If you exercise the option, the option money deposit goes towards the downpayment of the property. If you don't you usually forfeit your deposit. Also, some of the benefits of the lease option is that some of your rent money can go towards the down payment. I do not understand your question about "are there people that buy and option back?. You have to explain it better. Yes, there are many foreclosures in San Diego in many different areas. As the previous agent mentioned, you have to be careful that the Seller is a sound Seller that it is going to keep on paying his mortgage otherwise, your option money would be in jeopardy. With some many defaults and foreclosure nowadays, you never know. The Seller; in this case the person that gives you the option, has to be in good financial position and would have to prove it. The option has to be recorded so the property does not get sold behind your back.

You need to find a wiiling seller who you can negotiate with. This is a difficult process.The seller will want to know how serious you are about purchasing the leased property.Make it crystal clear what your intentions are up front.This is a give and take proposition. Be willing to make concessions for the seller to want to do this type of deal. This is very dangerous territory for you both. I would consult an attorney to cover all the details involved.