Leaseback on Possible SFH Purchase

[Brandon O.]

Hello BP! I'm a first-time home buyer and very green to this real estate investing thing.

We found a good SFH rental that we recently put an offer on. This is a 3 unit SFH, where we'd live in one and rent the other two.

We submitted an offer a few days ago, but now the seller is countering w/ a leaseback. They're asking for 60 days so they can find themselves another place to move in to.

Wanted to get your expert advice about leasebacks in this situation. Is it recommended? Are there other options? If we proceed w/ accepting a leaseback, what should I include in the offer and terms?

Here are some details:

Estimated PITI = $3700 for all 3 units
Est. Leaseback Rent = $2400 (for the 1 unit the seller would occupy)
My current rent = $2000

Thank you so much everyone!