Anthony, please explain what you mean by "Rent to Own". Many people have a misconception about that program. They often think that all the rent goes towards the purchase of the house. However, that is not correct. The part of the rent that is over the market value is what goes towards the purchase. i.e., house normally rents for $1000 per month, tenant pays $1200 per month, $200 per month goes towards the purchase price.
If a landlord applies all the rent tot he purchase, they then have to pay double taxes. They have to pay on the rent they "should have" recieved (calculated by the IRS), and then taxes on the sale price. (This is a simplified explanation, it is much more complicated, but you get the idea)
In addition, having all the rent go towards the purchase means there is no rent, it is just payments on the purchase price, so the tenant is really getting free living space.
These are just some of the misconceptions about "renting to own". If you are interested in legitimate "rent to own" property, then contact your Property Management company, or any of the Professional Property Managers locally and they will have some of their inventory that will qualify for such a program.
Rachel Lindsay - 1 Sterling Place, Ltd. Property Management