Closed First Deal on to the the 3rd-Help!!

[Cynthia Franklin]

Hooray. BiggerPockets helped me to find a mentor and close my first deal in Fort Worth. I have a 2nd deal in the works in Dallas but I have a question with my 3rd deal. I have a lady with a property in Alvarado. It is a manufactured home. She paid $105,000 and owes $89,000. She currently has a tenant living in the home for approximately 1 year. He has stopped paying the rent and is 4 months behind. The home owner signed a "lease purchase agreement" with this tenant that is very vague as they came up with it themselves. The current tenant wants the homeowner to pay him $6000 to move out. I have been asked to come in and help. My desire would be to get the current tenant out and wholesale this property to a Real Estate Investor who will fix and flip. It looks like this might be a better owner finance deal since the current home value is $81,230. The owner has not been inside the home in the last 6 months to note the condition. A ballpark figure of estimates based on the owners response to my questions would be $12,000 (mostly septic tank repair, paint and carpet).

Please give me so suggestions?
Cynthia

[Cynthia Franklin]

Ibrahim S
That was funny! Thank you so much for the advice. This seems really tricky to me. After I get the tenant out, it seems like the best option would be an owner finance since the home is upside down.