Selling Duplex on a Lease Option
I will be selling a duplex i just picked up on a Lease Option. My question, since this is a duplex (i plan on lease optioning the 3 bedroom unit), what do i do with the One bedroom income. My thoughts are, the tenant/buyer will be paying an option payment for the 3 bedroom unit to purchase the duplex. I will be 'renting/leasing the 3 bedroom unit for the option term of 1 year. I want to then owner finance the purchase to the tenant/buyer once the option term expires. During the lease term i also collect the one bedroom rent? After the option to purchase is executed from the tenant/buyer, and i owner finance, the tenant/buyer starts to collect the one bedroom unit rent?
So during the option period and i am collecting rents from both units, I'm pretty much a landlord because utilities will have to stay in my name because the duplex has one electrical service and heating boiler.
Anyone have a similar deal?