I will be honest, I had no clue about what a rent to own home was! I was young. I also know that many of you are just like I was. What is it? What does it mean?
It means a whole lot more options for you then you may have realized. My advice is two fold.
For me it was a way for a self employed person to buy a home and the home I chose was the exact one I would have wanted no matter what.
In my personal experience, It made a ton of sense. I simply showed that I could make the payments on the house for a period of time (for me it was 2 years) then when I went to the bank I was no longer buying a new home, I was simply refinancing the home I was in and my payments dropped by over $100 / month! I have a good friend of mine that did a lease with option to buy. It was the same type of process. It showed that he leased the home for 4 years, the landlord applied a pre negotiated amount toward the asking price and when he went to the bank it showed as a refinance and he was able to close the deal within a week and a half.
Now please understand these two examples are my personal stories. Each state I am sure is different as each situation is different. However, Having a professional realtor on your side will make the transaction as smooth as possible!
However, Please educate yourself about lease to own homes and conventional home buying.