I could try for a bank loan, but my parents would need to cosign, and (1) they wouldn't even consider doing that for their 18-year-old son and (2) I'd rather keep immediate family out of the equation.

Perhaps it's because I don't have tons of cash standing around, I don't want partners, and I don't completely trust the risk equation of larger more expensive Class A projects - these are the only kind of rentals I buy.Assuming you want a project and you can and will put in the elbow grease - If they are performing and in an okay location and in rentable shape with good bones, $6k - $7k income with value-add potential for $100k is a great deal.They should cash flow enough to pay for almost all repairs except for large capital, but then again you should be able to save for those out of cash flow, or refinance in a few years.If they are willing to hold the note for a couple of years, you could offer them a high interest rate if they finance the entire thing for two years, or maybe they can take %10 down.

I can tell you how it works in my state and the general (federal) tax concerns.The partnership (LLP) would need to agree to transfer the property to you or an entity you own (such as an LLC) under terms that wouldn't equate to a gift.

That way, you can structure the best deal AND get the type of house you want.Depending on which side of the equation you are on, the biggest issue with Rent to Owns is the lack of quality properties offered on this arrangement.

Remember that you have costs on both sides of the selling and repurchasing equation.

Is there anything I'm not considering in this equation?

Also, you may want to re-visit your cash-flow equation.

My equation to get my MAO (maximum allowed offer) is 65% of ARV-repairs-my fee=MAO.  

I think you are right with that having being a good additional source of income that isn't factored into my equation above. 

I always evaluate each deal on its cash flow, but when you include the condo fees in the equation it seldom makes sense, therefore I stay away from them.