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Hopefully this is the right forum, as creative financing goes I have a question. If I was do strike a deal with a property owner via a lease option to buy in 2 years, I do improvements such as exterior paint, landscape, etc. would I be able to take the the tax write offs @ the end of year? Is there a way to structure the deal via contract that I could make this happen?

Thank you

Wow, thanks for all of the great advice, I have been in contact with the owner of the property and am going to meet with him tonight. He is looking to get out what he put into and is interested in a possible sub to deal. I only need to work out who pays the taxes, ins. I am really excited that he will meet with me hopefully I can try to work out a deal.

Thanks John for the info, here is where I am at:

4 unit bldg listed for $369,000
(was purchased at auction in 9/06 for $305,000)

Rent total monthly roll of $2,180.00

Rents are due to go up and some improvements should be done (paint, etc.)

With the market the was it is, I am sure it's overpriced (due to realtor fees), its hard to comap as its in a small town and there is not another to compare to. I have not seen any improvements done so with the new landlord not even owning for 1 year I think it need to be priced near $320-330,000. After all it was bought at auction.

I wanted to structure something along the lines of some small cash down and a possible 2 year agreement with me able to forgoe a few initial payments to use for improvements. Then I thought I could pay him monthly with the rent rolls. That is where I get stuck. Assuming his mortgage payment is 1,500 a month I obviously don't want to give him everything and not be able to have some type of income or buffer. Also, I am not sure how to structure the 2 year deal to buy him completley out. terms, etc.

Thanks Justin

I was hoping to get some input, I have a "potential" deal in which a landlord has his 4 unit apartment building on the market. I spoke with him and because it's a 2 hour drive for him for maint. grass cutting, etc. he wants to sell. I asked if he had any interest in some "creative financing" such as a lease option or sub 2, and guess what HE DID! He wants me to come to him with some ideas as to how to structure it. Easier said than done. He has four apartments, 2-2 bedrooms and 2 -1 bedrooms that are all rented out. There is a lot of posts on how to do a lease puchase or sub 2 to "flip" or live in yourself, but I have not come across any for a property that someone would want to keep as a rental. Any input would be really helpful...