Seller Financing Advice

[Monica Davies]

Hi guys!

I own a 4 plex and a duplex, and am working on, in Brandon's words, building my "stack" and trying to get an 8-plex. I came across a seller, who was interested in seller financing his 8-plex and the numbers look good.

I was ready to go under contract, but he is now unsure. He wants to serve a church mission and leave for 2 years, which is why he wanted to sell. But now, he wants to hold and have a property management company run it for 2 years while he is gone, then come back and 1031 exchange it into a large home for himself, to avoid the significant capital gains.

Is there a way this deal can work for both of us? What about a lease option? I've never done one before.