When you lease a property, you don't own it. Thus don't retain the rights of an owner. The lease would never state that too. It might guarantee you the use of the property, but not ownership.
Even in a rent to own contract, you do not own the property until the principal is completely paid off and title is conveyed.
If your lease allows you to sublet, most don't, you could possibly rent to a section 8 renter if section 8 approved the property which requires inspections by HUD.
How do you buy a house with no money or credit history? If you do buy a house you can check with the Housing Authority if you want to become a Section 8 landlord.
"As long as I was making monthly down payments and theoretically "owned" this house because the lease stated that as long as I payed the monthly cost(s) I own this house. "
What in the hell does that mean is this a "RENT T OWN" house? BAD idea if it is. Because "theoretically" you own nothing to rent out or anything else!
If you are talking about a mortgage in the traditional sense then reread Steve's reply.
You will not be able to get a mortgage from a reputable company without providing proof of income. They will want W2s as part of the loan process.
No credit history and no income history = no loan.
With no credit history, you will not get a loan.
Let's say you are buying a new home. You have no assets, credit history, or previous payments. If I was making some serious cash in a month or two could I qualify for a mortgage on the house? As long as I was making monthly down payments and theoretically "owned" this house because the lease stated that as long as I payed the monthly cost(s) I own this house. While the term might be x number a years to pay the debt could I let a section 8 family or could I rent the said property?
