Ideas to save my home.

[Antoinette Brady]

I'm staying with my nephew on a cute little 1.5 acre ranchett in a rural North Texas county. He's been here a year. He cleaned the property inside and outside in lieu of a deposit. In a year, he has paid for all the repairs that were done. He was about to start replacing the floors when we found out he was being evicted because the property is listed for sale as a residential property. 

Rental property is practically impossible to find around here. My nephew stayed with others for months until he heard about this place coming up for rent. Now, since we are month to month, we are going to have to come up with first, last and deposit...and that's if we can even find someplace. 

We'd rather stay here. This place is a dream come true. The only problem is the house is in bad need of electrical & plumbing repairs. My nephew was so in love with this place, he wanted to rent it forever. He planned to rewire it, re-do the plumbing and put in new flooring and floor coverings. 

I'd like to buy this place but I don't have enough of a down payment or a high enough credit score, although my credit score will show I have not made a late payment in the year since I started building it. I was formerly in an abusive relationship and my X ruined my credit during the relationship. I've been on this site for several years, in my abusive relationship, plotting what I would do if I ever got out. I want to invest in real estate. This property is large enough for at least 3 RV's. RV lots go for $600/mo around here, the same amount my nephew is paying for rent. 

I have an idea and I'm sharing it here because I need help and all-around advice from all of you. 

My idea is to find a Buy & Hold investor who can buy and hold the property for 2 years. This property is listed at $105k. Even if we can find someone to pay $110k payments can't be much more than the $573 Zillow (for lack of any other easy mortgage estimators) says the property will cost per month.  I was thinking I could offer some enticement such as paying all the property taxes and insurance, paying for all the repairs. I also though of setting a set sales price for two years from now. I don't know if that would work or not.  But once my nephew and I got control of the property as possible buyers, I thought I could easily set up 3 RV's. RV rent around here is normally $600/mo, which is what my nephew pays now for rent. So, I was thinking that even without the RV's, my nephew could easily pay more per month. 

Does anyone have any less crazy ideas or have any fresh ideas? We are a family of three adults, a puppy dog & a very old horse.

Thank you in advance. I am desperate but I hope to turn this around. 

[Kirk R.]

You need to talk to the seller/LL.

Something doesn't make sense.

I'm guessing it's something wonky with your nephew.  Most people don't go in and spend resources on fixing up a month to month leased property.  & then the nephew is cutting your communication with the LL/seller.  Speculating that your nephew might be lying to you about something & did something to irritate/motivate the LL.

Every showing have a can of stink spray handy before they want to show the place :)