@David Franza I think we got sidetracked..but...here's the deal..You are looking to do a SLO (sandwich lease option) where you get XX down and you are cash flowing XX per month.Since there is little to no equity, a SLO is not your best bet.I personally would prefer a a CA, or assignment, depending on the actual numbers.Keep in mind, with a SLO, you are looking for a spread.Now, it sounds like you are anticipating appreciation in the next 5 years, which makes sense.You can do a SLO, and anticipate about 5% down or so.We get about 3.5%.I would assume that different areas and states the amount down can vary, as I've seen it, but we get about 3.5% down ish.Despite what you may think and hope, in many areas, trying to get 10% down only makes a house sit vacant for 6 months.If someone has 10% down, they normally want title.

Helo BP, i have an idea but need some info on putting it together. in my area (Chicagoland) most os the multifamily owners who want to sell are deep under water and rental payments barely make the mortgage. i have an idea of getting authorization to speak with their lender in order to get a loan modification. once the mod is approved wholesale the deal or due a sandwich lease option. the majority of the sellers ive spoke to just want out. my question is at what price point do i set the purchase price to and how to get them under contract once the mod is complete?

You could also try something like a sandwich lease option to start out with.

Would a sandwich lease option be a solution?

I had a lunch in at my local YMCA with Subway sandwiches.

and the sandwich LO. the sandwich LO is where you are making the payments to the owner, and the tenant is paying you, and you are hopefully making money each month on the spread and hopefully going to make money when they get financed.

I am doing a sandwich lease option.

I imagine this is whats called a sandwich lease purchase deal yes/ no?

It you do what's known as a sandwich lease option and you stay in the deal, the option fee remains 'as is' and would be reported when the option is either exercised or expires.Hope this helps...

I would want for you to find a CURRENT seller that would lease to you under market and sell yo you under market, and have you sub lease and sub option.Or I would want you to lease option and assign to a CURRENT seller.There are too many houses out there right now that are current and will do Sandwiches or LO Assignments.