Luxury development - rent back, ever a good idea?

[Cole Minnis]

I have been reaching out to South Bay luxury neighborhoods. I have a guy interested in selling “in 6 months”. He is looking to buy a home in Santa Cruz in meantime. Figure I will just follow up until he’s actually ready to sell but out of curiosity….is it ever a good idea to offer a creative solution? If I could get this house at a great price and offer the seller a rent back option until finding his new property. 

This house is a tear down and property will be developed. Takes time to plan and get things in order before breaking ground anyways. 

Super nice neighborhood and great opportunity if price is right. Just got my mind going, let me know what your thoughts are.

Thanks