Creative financing for unfinished unit

[Meredith Witzel]

Hi everyone! We're looking at a triplex with two finished units and one unfinished unit. After talking to our finance guy, we've learned that there are no regular\conventional loans that we could use to buy it, but our numbers look really good if we can get it and finish that unit off. So, questions: Would you pursue this opportunity further, or walk away? One of the ideas we are batting around is to negotiate a lease purchase with the sellers, where we would finish the 3rd unit, and then purchase the property at a pre-negotiated price. Has anyone ever done anything like this before? Is a signed contract through a RE lawyer enough to protect our interest if we did it?