Need guidance to handle this deal
I've got an SFR under a Lease Purchase contract with a couple who's a family friend. I made an agreement with them that i'll lease the house for 900/month for 24 months with option to buy within that period. I'll take care of the property tax and insurance which will cost me around 2600/year. I can rent the house for 1400-1450/month on a Lease Purchase also and set the purchase price at 215-225K. The purchase price is 180K and the FMV is around 195K. Should i sell the house now or do the sub-Lease Option route? The couple would prefer to sell the house now. I can sell the house as FSBO so I can max the gain but I'm full time employed and 80 miles away from the property. If i'll use a Realtor, there's not much left on my net.
Any advice appreciated.
Jim