My goal was to just take his month late payments and give him a non-renewal when his lease is up.

Who is obligated to make the payments.

Perhaps we "buy" the house from them for the $328K balance to satisfy the lender and don't need a large down payment and then have a separate contract with them to pay $x per month until we've paid the full $172K amount.

@Madison SloanTo start house hacking, focus on saving for your down payment, researching target markets like Salt Lake City or North Idaho, and building a strong team of professionals, including an agent and lender.

Ask tostay in the office for 18 months rent free while he buys/builds.M.

investors can figure on 10 to 12% return on PMLs   generally they are short term 6 months to 18 months.. in my 40 plus years at PML I find most investors started as landlords then tire of it and start to diversify.

If they are on a month to month, I would serve the notice of non renewal.

You don't want to get a call 3 months into a project where you have lent money and hear the operator say that they ran out of money and need more money from you to finish the project or you will lose your investment.

Hi @Jaycee GreeneThe renno is expected to take 6 months - 12 months (we have a very good team in place).

Is that why you’re leaning toward renting, even with a $1K/month loss?