Do you have at least a $5K deposit? Why don’t you get a local (Poway/PQ) agent to help you find a lease-option deal at today’s RE prices? You can always have the property physically inspected PRIOR to going thru with the deal. I wouldn’t throw away thousands per month on rent without having some of it applied to my downpayment but that is just me.
If you decide to explore this, STAY AWAY from owners behind in their payments. They will likely abscond with your option deposit and all of the option portion of your rent whilst being foreclosed upon for NOT making their mortgage payments, instead of keeping your option funds in a separate “trust fund” as the law dictates.
It would be best to go thru a reputable property managment company. Your agent would receive a small commission upon your signing the option to purchase and the rest upon your exercise of the option (1-3 years later … however long it takes you to save the rest of the necessary downpayment).
