Here are two deal diaries of such setups -- one, a young couple who were living there and renting the place by the room, and the other, a young couple who were off-site but still rented by the room.It can certainly be done and is a great way to get your first place, have mortgage reduction (maybe even cash flow), and get some landlord experience.

Fed decision imminent with 98% chance we have a 25bps reduction per CME watch tool. 

If you are willing to wait we are most likely going to see 100 basis point cut over the next year and a reduction in the spreads that lenders are working off of.

That depends on what I am starting with capital wise, family wise, and intentions.If I'm a regular joe believing the ******** BP and other areas state of FI in 5 years with REI I take a chill pill and start buying in an area that's showing promise(already changing) in a city that's growing(industry, population wise) that's free from natural disaster risk(as best as I could).

They will usually let it run through three or four times on the auction set without hitting the reserve and the formula for reduction, which is similar for REO on the market, is reduction of ten percent every thirty days until it sells.

In the limited instances where I do collect a fee on the purchase I often roll it into the deal and take price reduction.

Agree a conversation is in the cards but if anything it would be more than fair to agree to keep the rent flat vs any type of reduction (at least that's my logic).

This reduction in access is what the compensation was to be for and tenant complaints will be many and with creative language. 

There's no magic pill.

@Jay Hinrichs I love your honesty through the entire 30 pages,  a hard pill for many to swallow but I get you my man, and would love to connect with you .