How can I make this deal work? Would an option be my best bet?

[Chris Oshea]

Met with a seller today (Called one of my bandit signs), long story short the owner is on a waiting list for elderly housing closer to his family and his house is just what i'm looking for. Owns outright, interior is 30 years outdated all the way through, perfect neighborhood, and I think I'll be able to help him out of a potentially difficult situation. I told him I'd come back with an offer on Monday, but here's the thing:

He is on this waiting list and could be notified any time between next week and the next 5 months that a spot has opened up for him, and he'll have to move QUICK or he'll be put back at the end of the line (which he DOESN'T want). He has nowhere to stay until that time, so he wants to stay in his house until they tell him he's good to go. (I think they're gonna give him a week or two advanced notice, but I'm not certain)

I'm working on what my offer is going to be, but I'm curious what options I have in this situation.

I'm looking to wholesale the house, what are my possible ways of working this deal to be a win-win for me and the seller?
Would it be possible to put the property under contract with the agreement that he can live in the house for a certain period of time and leave whenever he has to, and deduct "rent" from the sales price? Would an option be better? or is there another way to work this deal so that he's happy and I'm able to make it work?

Thanks in advance!
-Chris :mrgreen: