You'll need a much lower priced property with some value add or larger equity spread, and also have the funds to make the payments in case it doesn't play out so smoothly, or there's delays getting renters/lease-option buyers, etc... 

Hope it all goes smoothly for you.

It is really important to work with an escrow agent that knows how to do this to make sure it is done smoothly, professionally, and legally.

Thanks @Fahim Siddiqui things are running smooth our biggest problem now is the local market is drying up for rentals.

They don't have much to their name and I found the house through a friend who knows the family so I'm just trying to give them a smooth transition and figured 1 month to get it together would be enough.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

Any feedback will be great.3 plex:Location is in Port Orange, Floridaits a single family 2/1 with a duplex in the back that has a 1/1 and a efficiency unit. 2/1: $8501/1: $600Eff: $435Total= $1,885/ month Income $22,620/ year (assuming everything runs smooth) List price is $169,000 but may be some wiggle room for about $155-160k.Expenses are claiming 25% annuallyInsurance= $1,500Water= $2,400Tax= $1700total= $5,600However thats not even including management, maintenance & repairs, or cap ex.

Any feedback will be great.3 plex:Location is in Port Orange, Floridaits a single family 2/1 with a duplex in the back that has a 1/1 and a efficiency unit. 2/1: $8501/1: $600Eff: $435Total= $1,885/ month Income $22,620/ year (assuming everything runs smooth) List price is $169,000 but may be some wiggle room for about $155-160k.Expenses are claiming 25% annuallyInsurance= $1,500Water= $2,400Tax= $1700total= $5,600However thats not even including management, maintenance & repairs, or cap ex.

It's an irrelevant amount of money.Whenever you are buying a property out of state you should do a few things to ensure it's as smooth, easy & low risk as possible.

Cheers,-Gary Welcome to the site Gary.Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.