This is typically HIGHER than option one. 

I did a lot of research on options.

The Purchase and Sale Agreement is the contract that you and the seller sign which allows you the option to purchase the property at the agreed upon price.

You could structure the deal as an installment sale or a lease option so the property owner doesn't see a large capital gain tax payment for the sale.And good on you for helping out!

I would truly appreciate another option if you have one or a local agent referral as you mentioned.Please have someone reach out to me via email or phoneQuote from @Aaron Letzeiser: Quote from @Dean Valadez: I reached out to Obie for a quote and this is the response I received via email:"We’ve heard back from all our markets and unfortunately, we do not have a market available for your property at this time. 

Looks like you have some good options in front of you @Martin Phinney.

The credit thing should not be an issue for many DSCR folks like myself. 80% ltv may be an option, but,I have seldom found the tradeoff in cost/rate to be worth it in the last 12 months. 0% origination is possible, but, as others have said compensation is received in one fashion or another (higher rate, processing fee, etc.).

If you need an option that isn't as document heavy, a DSCR cash-out might be a viable option if it's an investment property.

Just an option, we love it.

I believe it to be a little Southern California hidden treasure for cashflow, mainly class C but if you know what you are doing its a really good option to invest locally in CA with decent returns.