Option contract or Subject to?

[Mike Stahlman]

I have a house I can purchase for 300,000. But I don't really want it. The ARV is around 330-340,000. They do not want to go through the hassle of listing and selling the house because they do not live here and they are tired of renting it. Can I use an option contract? I could write an option contract for 6 months and if I can sell it quicker it would be good for us both. This is a good time to sell and the house needs little to no repair. If I did subject to, the rent rate matches the payment so there is no upside for long term hold. I would have to sell it in a few months to keep from loosing money. That's scary. They also have about 70,000 in equity built in to the 300,000. They do not want that all up front because of taxes. So I can really buy it for ~225 and they will hold a note for the equity they have for a year at 1%, 2% the second year, etc. So when I sell it I could pay them the rest. Just trying to figure it out.

Thanks for reading.