If you are talking about 12%+ annual returns for the foreseeable future, obviously that is something you would want to entertain. 

I may see if the seller will entertain owner financing.  20% down, 4.25% on 20 year schedule with 3 year balloon.  

It is entertaining and wealth of information even for experienced people.

In the United States people like to go out and do things for activities.Right now as we speak Macy's that are going dark and instantly being replaced by entertainment type complexes among many other tenant types.The key is not whether you have an empty space but where is it located and is the dirt valuable?

I was also going to point out the income tax issue but Ron beat me to it.   2 other things to consider would be closeness to amenities (more restaurants, entertainment, and services in Clarksville, also closer to Nashville)  and the quality of the schools in the area.  

If these are truly exceptional homes for the area (Company CEO/heart surgeon/society entertainment home caliber) maybe approach the top tier realtors in the area & see what you can negotiate.

You should let him know his asking price isn't reasonable and you'd be willing to pay a reasonable purchase price if/when he is willing to entertain one.

The house is very close to University of Cincinnati, all major hospital, highways, downtown, and with walking distance of one of Cincy's entertainment districts.

The C Corp allows be rent my house 14 times per year to my company, write off medical expenses not covered by insurance, travel, entertainment, etc.Feel free to PM the next time you're in Indy, I'd be glad to dig into this deeper.

House that hasn't been updated since it was built in the 70's.It is one of three houses on a 300 acre cattle ranch.Through cheap rent I was able to become debt free and have offered to buy it from my Landlords.I have developed good level of trust with them, and they are entertaining the idea.I called the planning department at the county office and they said this area (Wheatland California) is zoned ag land and could only be split up into 80 acre parcels.The only other option they gave was for the owners to separate the homesteads from the land, but all three houses would still be together.My question is has anybody ever been in a situation like this before?