Investing when the numbers are tight....
A co-worker of mine loves the home she has been renting for 5 years, but the landlord is tired and wants to sell which may result in my co-worker being forced to move. Ideally, I'd like to pick up the property and let the tennents stay on...but the numbers have to work.
Property is a 3/2 SFR, well maintained, approx value $100k.
Current rent is $850, comp rents are $950 in the neighborhood.
Owner has no mortgage on the property and notionally wants $98k.
May be some flexibility on the price/rent and the tennents are open to a lease option...but I think the owner wants to get cash in hand and be free of landlord headaches.
What ways would you structure a deal so that its a win/win/win?