So, in your considerations, I would park right there for a bit and determine how this would look for you.Since you have about 2.5 years to think about it before you would need to spring into action to take advantage of the rollover for tax advantages, maybe you try on a rental and see how it fits. 

Quote from @Deirdre Lizio: This is not an "either-or" consideration.

Considerations.1.  

definitely need to have lawyer look at it.Risks/additional hurdles- On the practical side, the absence of deeded rights makes tenancy in common ownership considerably more risky than condominium ownership, even where the TIC owners have separate financing.

Hello fellow landlords,The properties in question are in a market that although it is not cheap, it draws lots of money-cautious tenants.

So, selling sub-to, the mortgage is brought current and timely payments are made by the new owner helping the original owner's credit CONSIDERABLY!

After 2 years you can apply for a “Rent consideration” (I think that’s what they called it) as long as you still live there and that may allow you to increase rents by more than the annual allowance (probably designed for unit that are very low rents).

It's definitely tricky because you want to be considerate and you are also running a business.

Let's say there's 3 properties in a 1-mile radius with 5b/3b, but one is a foreclosure and the other 2 are regular conventional sales.If you're doing a comp for your subject (4th) property, do you have to take the foreclosure one into consideration?

It is a considerably good price considering the area, I'm just not sure on whether the rental income is worth paying for.Apart from about $10,000 it is fully rennovated and ready to be rented out within 2-3 months.Thanks for any advice!