3BR 1.5 Bath Out of State Structure

[Tyler Kaye]

I am looking at purchasing out of state.  I live in Washington and have a buyer with a property under contract in Wisconsin that cannot get financing.  Is there a way that I can purchase the property with a contract for the current "buyers" to gain ownership after a note that I would hold for them?  Or a different structure that I can pursue.  I have cash to finance the property and at the local rental rates, it should cash flow right around $175 dollars a month.  The property does need some things, of course, but is bank owned and they want to offload the property because they have had it for over a year.  Really, I am just not sure if we can make this happen or how to do it.  I have done two deals in Washington, but neither was done with a "creative" strategy and were pretty cut and dry.  I tried searching for possibilities on the site, but ended up in a deep circle with no clear way to go about this.  I am in contact with their agent and working with my lender to determine a possible approach.  Thanks in advance.