You have to disclose that it won't be owner occupied but it's still conventional financing subject to fannie/freddie underwriting requirements (like a decent DTI)-- you'll pay a little more than you will for an owner occupied property but it still the cheapest financing for a non-owner occupied investment property (I thought these usually aren't callable loans if you haven't done something fraudulent).

Also, look into the subject-to strategy and lease options.

The market is definitely as hot as it gets and a listing with no offers would generally translate to a price decrease.However, you need to take into account that news reports and experiences regarding the market in general, don't necessarily mean that the same is true in your specific market.  

April 2020 was the first full month of the pandemic, so the 37% increase in closed sales last month is a tell-tale sign that metro Austin’s housing market will continue to be hot for the foreseeable future.The median home sales price for metro Austin was a record-high $460,000 in April, a 42% year-over-year increase and $35,000 jump from March.Total sales volume for the metro was $2.07 billion in April, a 96% year-over-year increase.

April 2020 was the first full month of the pandemic, so the 37% increase in closed sales last month is a tell-tale sign that metro Austin’s housing market will continue to be hot for the foreseeable future.The median home sales price for metro Austin was a record-high $460,000 in April, a 42% year-over-year increase and $35,000 jump from March.Total sales volume for the metro was $2.07 billion in April, a 96% year-over-year increase.

Would it be smart to train him and have him educate his self on the subject?

The market is hot and you should be able to find someone quickly, possibly for a higher rate.Question: why are you signing a 19-month lease?

Perhaps the buyers bought subject to, assuming the larger note?

I originally went at this situation with subject to financing in mind.

So I would imagine yours would fall into the C2-C3 category, subject to the appraiser's opinion and what information they can gather in the surrounding area.