At the least, propose one with him as and equity partner at XXX terms and another with him as a lender with YYY terms, but make sure these terms are market competitive and not so much "uncle" terms.

I also have found a couple generic signs that just read rent to own 3bdr 1 bath call XXX-XXXX.  

I also have found a couple generic signs that just read rent to own 3bdr 1 bath call XXX-XXXX.

I would use a Joint Venture to define the responsibilities and duration of the JV examples for flipping:  buy, fix, flip x number of properties OR self terminate in two calendar yearsbuy & hold: acquire properties to generate $x,xxx,xxx per year and then disolve

Call xxx-xxx-xxxx"Do all of this today & you will pick up some buyers.Also send an email to your local REIA & NJ meetup groups.

I don't think you will ever get the guy to sway but you could present comps and show him its really worth $XXX,XXX and see how it goes, otherwise focus your time on the next one.

I just purchased a SFR in Cleveland last week and the purchase contract has the following clause;"Grantee herein shall be prohibited from conveying captioned property for a sales price of greater than $XX,XXX.00 for a period of 3 month(s) from the date of the recording of this deed.

So if it's a 3 family, figure 4 units and say something like "Since it's not deleaded yet, and MA law says I can't rent to families with kids unless I get a lead certificate, it's going to cost over $20k to delead this building, so I can offer you $XXX,XXX for the building."

In my opinion that's a cleaner way to do it than putting escape clauses into a purchase contract.An option contract basically reads like this:"Optionor (seller) grants Optionee (you) the option (right but not obligation) to purchase 123 Main Street for $xxx,xxx within xx days from the date of this agreement."

Now if someone just said "I'll let you have this property for XXX dollars and signed nothing and you only had their verbal agreement to sell it, then you would NOT  have an interest in the property and therefore could not legally say you controlled the property or sell it.