The reason it may work is because as you lease the property up the value will increase making it possible to refi into a Perm Loan after the property is stabilized.I don't know if this is what you want to hear, but it is the truth and that is what you'll always get from me.I love talking shop, you can reach out anytime and we can discuss the scenario and your qualifications and I'll give you the real deal on what is and is not possible.

@Shelly Rike MitchellHe is price shopping - you could also tell him he is responsible for termination and the remaining balance of the lease - take it or leave it.

So you can afford to shop around for a good refinance lender then

They are super customizable and if you shop around you should figure out what the general cost per sqft is in your market is.

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

Needed to get auto fixed, asked Seri what to do, Seri said ___ shop, went there, they ripped me off, "Well that's just not fair".....

Zelle and Venmo are to pay your buddy back for coffee, not transferring thousands of dollars every month. 

I'd say this deal overall doesn't seem like the best deal given the numbers you gave as well.My business partner and I do investment deals all the time in Phoenix, we should grab coffee sometime and talk through a strategy based on your goals.

The pros is it's got a great exterior with steel siding and a new roof. also has a 1200 sqft shop that is insulated.

My current project is to remodel two buildings in a commercial shopping center in Wimberly, Texas.