Possible Subject to deal, just STUMPED..

[Mike Sands]

Hey! Thank you in advance for reading and replying! So I have, at least I thought I had my first subject to deal underway. I have a seller who has a home listed in one of the hottest up and coming neighborhoods in the philadelphia area. He's moving to Florida and currently has another property he lives in that's close by. His rental property is for sale he's listing to sale by no owner and no agent. I sold him my subject to financing very very well he was very much for it. He says he does have a real estate attorney and before finalizing the deal he wants to speak with his attorney. I rest assured him that was perfectly fine and I encouraged it. So he sends me an email back this morning with the advice his attorney gave him and now I am completely stumped.. meaning I don't even know what to say back or how to reply to what he says here is the exact email he sent me this morning after speaking to his attorney, " Hello, I spoke with my attorney yesterday, and what you have presented would be a good idea if I was in financial trouble, or had a property I was unable to sell. The mitigating factor of the selling of this home, is that in a short time I will no longer be living in this area. Therefore, having a current revenue stream will turn to a cost, because I will need to have the property managed. This is not my intent. With your proposal, the mortgage is assumable, but the equity is not liquid. Taking over payment terms, and then tying up the equity, is not beneficial to my overall exit plan. I want to be free and clear of the home, by the end of the year. Therefore, respectively, I will need to decline this offer at this time. If you have any other reasonable plans, I am still very much willing to listen." Any suggestions on how I can restructure this deal and really make this work, I really want his home he's moving out of state and wants it gone. Very very low interest rate, mortgage of $800 a month and homes in the area are renting for $1,200 plus! A little renovation and I could have this property rented for $1,200-$1,500 easy! Any help or suggestions would be great I don't want to let this possibility slip from my hands. Thank you!!