My primary goal (whether it's a sound path or not) is to help my adult children build wealth along with us.

I own a few duplexes near Nationwide Children's Hospital.

Does this tenant usually pay on time?  

They're pressuring their investor-clients to pay for their sins with change orders and/or escalations, or escalations disguised as change orders.

He would be the sweat equity partner and pay rent to cover our mortgage payment. 

Did they pay you all of your contractually agreed upon late fees?

I'm also in Chattanooga and have been eyeing a lot next to me that I'd like to do this with, but the owner is elderly, and her children just won't sell it, even though they have to drive from Cleveland to mow it. 

Then they also are not in a position to pay if the borrower defaults to ensure the underlying debt stays current. 

Most people aren't going to pay full asking price just like most people don't pay full sticker price at car dealerships.

This gives them the ability to pay prorated or first months rent and the security deposit with move in costs and not having issues.