The “borrower” would have an option to buy back the property if (1) all lease payments (“mortgage payments”) have been made and the borrower/seller pays is the sale price/loan amount in full at the time the option period/note matures.  

Yes, use of single office space did die off with COVID, but because there was not an option. 

Are you able to get a partner involved? 

Financing options do exist: hard money loans, renovation loans, and some traditional mortgages can be used on distressed properties if criteria are met.

A 1031 exchange into multiple industrial properties, a mix of asset types, or even a REIT investment could spread risk while keeping you exposed to real estate.Hope this helps—sounds like you’re in a strong position with good options either way!

There's zero reason to do this when there are plenty of options to avoid it. 

There are variables involved, and there’s of course skill and effort required not just calls.

There is so many ways it can go wrong and being a greater negative for parties involved. 

My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.

I have a bit of experience with co-living investors, having been involved in several co-living investments for five years.