Buying my first rental!

[Andrew Nikolaus]

Hey guys! First time poster here! I am just getting into the real estate world and wanted to get some advise. I am currently renting a 3 bedroom townhouse from a guy that mentioned to me, he wasn't happy with how it was working out for him. He also mentioned he didn't think he could sell it right now and wanted to just hold onto it and break even collecting rent. It's not in terrible condition but I think I could put minimal work into making it look better and rent for more. As I was doing my nightly real estate research I got the bright idea of possibly approaching him about taking the property off his hands. Hopefully in a "wholesale, distressed seller" type situation. I just wanted to know if there where other purchase options rather than the regular getting a new mortgage for it? Thanks in advance!