@Antonio Bodley Yes, our company gives the owner $10 option consideration, just as you typically give $10 consideration on a deed when you buy a house.However, I didn't realize what you were trying to do...Duplexes aren't the best property to find a T/B for, so if you move forward on this I would market the other side as either a LO or a straight rental.I also wouldn't look to move forward on this if you can't cover at least 2-3 months of the other side being empty, and you better know how to screen an applicant very well.I have the feeling from reading your post that one or two hiccups in this arrangement could really hurt you, so just make sure you have the reserves to cover yourself.Also, in this situation, the owner will most likely want at least 1-3 months or so as option consideration.

If owned together, I am sure you could arrange a larger discount buying all together.

I'm sure the lawyers have been through these arrangements inside and out, however, I would view that agent as being in an agency relationship with that attorney as the agent is drumming up business for them.

How much of this rent to own arrangement is in writing?

But, if the furniture is already there, it's in decent shape and your friend has the ability to arrange it in an appealing way, I see no reason not to take advantage of it.

As for the $5000 that was going more for the location itself, airfare excluded as I have an arrangement with a gentleman for free airfare within the USA.

There are a ton of cheap $40,000 - $50,000 homes but they are trash and would end up costing a ton of money in repairs and be constant headaches.How would you suggest I arrange the financing to get the most bang for my buck?

Thoughts on this arrangement?

Seller, buyer, agents, and closing agent will all have to sign an arms length affidavit stating no such arrangements exist.

Your established relationship is a good thing, but keep looking, there are lending alternatives to the arrangement you mentioned.This was a pretty good opportunity and if all of your numbers are accurate, it sounds like a real "bread and butter" type of winning deal.