Hello Everyone!
Trusting I will find someone who shares a similar experience. There is a triplex property (4/3 main house, 2 individual units 3/1 unit, and 2/1 unit towards the back of the property) and 3 units sitting on a spacious and buildable 0.71-acre lot. It's been on the market for over 1 year sitting at $1.99m while the owners aren't in any rush to sell due to personal health conditions and squatting tenants. Would this be a house hack scenario; cash for keys to tenants in both back units, seller financing living in and renting per room? How would I structure a deal like this assuming the owners are accepting of replacing their former tenants with future owners of the property? I also plan on developing an ADU to permit 2 + beds 1 bath unit and community improvements such as installing solar panels, specified parking areas, common areas, a community garden (for tenants only), and rehabbing each unit to force appreciation.
If you need more details please connect to elaborate. This is a huge opportunity for my family's expansion and their first real estate investment. I'd love to hear what you have to say & learn how to navigate an opportunity like this.
