Need Advice on my first investment property
I have a young couple looking to move into the husband's childhood home. I'm a loan officer, and unfortunately there was no loan program that fit their credit situation. Based on the family relationship, the grandparents were willing to sell the property to the couple for around $125,000. I believe the property is worth somewhere around $200,000 and have offered to buy it and rent it to them until they establish more credit. I would like to sell it in a year or so for around market value and hope they have the qualifications to buy it then.
Is there any way to structure the lease agreement so they are responsible for any repairs that need done during the time they are renting? Or any other verbiage you would recommend so nothing goes sideways in the future?