Partner/Ideas on Luxury Home w/3.625% fixed for Subject to/other?

[Marcy Angulo]

Hi BP Family,

There's a luxury home in South FL that I'm going to list, but I wanted to get your ideas on creative options to possibly acquire it and/or partner with someone.  The Homeowner is willing to let someone take over the payments (which he modified & has PHENOMENAL terms of the Mortgage - see details below).  However, he does need the majority of the equity to build a new home.  He's very open to creative options, so just thought I'd put it out there to see if you guys have any creative ideas.   Here's the link to the 3D Matterport of the Home (it has about $400k in upgrades): https://omniscenic.com/3d/canyon-isles-home/fullscreen/

Photos:

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Aerial Photography:

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Aerial Video (Updated):

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List Price	$899,000.00
Mortgage Principal Balance (approx)	$508,000.00
Equity	$391,000.00
Interest Rate (Fixed)	3.625%
Term (Maturity 2052)	40 yrs
Interest Fee amount (Balloons 2052)	$130,000.00	(No payments made on this principal balance till 2052 - over 32 yrs of no payments)
Mortgage Payment (P&I, Taxes & Ins.)	$2,800.00	(Payment is on $378,000)
Taxes (Included in payment)	$706.87	($8482.40/yr)
Insurance (Included in payment)	$316.67	($3800 / yr)
HOA (Monthly)	$324.00
Potential Cash Flow	$2,000.00