Only Bank of America is known to do that, perhaps one or two other huge institutional lenders.If that bothers you, study up on "sandwich lease option".

Hello bigger pockets, is there anybody from the New York area who is familiar with doing sandwich lease options?

The question you are asking is the difference between an assignment and a sandwich.  

Your only option is to buy it "leasehold" (sandwich lease).  

Sandwich lease: buy with lease option that gives you permission to sublease, then find a different lease option buyer to lease option the home from you (risky, risky, risky - don't do this unless you have a ton of experience).4.

I think my father actually created the focaccia sandwich back in 1980.  

As long as you explain it the right way and how they are still protected and you are solving their needs, they should be okay with the sandwich.

We use our own agreements. agreements that we use with the seller of the following :Letter of intent to lease or purchase, a rental agreement that is pro landlord, an option to purchase agreement, memorandum of option, seller acknowledgement, sale and purchase agreement,  escrow instructions  Agreements we use for the tenant buyer: Earnest money agreement for property inspection and for earnest money, option agreement to the seller, lease to seller, assignment of lease, assignment of option, option release document, disclosure to tenant that we are not the seller/owner but acting as an assignee-assignorThese agreements are for lease option assignments and lease option sandwiches where we are in the middle of the agreements.

Sounds perfect for a master lease option or sandwich lease option. 

Structuring the sandwich lease can be a bit more tricky than Jeff Watson discusses; however, if a seller is motivated and wants out, it can be a great three-way-profit deal.