I’m considering consulting a lawyer to clarify these issues.Two weeks ago, I reached out to the tenant via email to start a conversation and propose a win-win renewal, but I haven’t heard back yet.

Yeah I have been back and forth thinking a lot and now it’s time to take an action.  

He did a good job but looking back on it now I think I could've done alot better with more insight and direction How did you finance this deal?

A host can't put a guest on the back burner until you have time.

If after interest rates spiked a buyer waited for them to drop back to 7%, they would have waited 21 years til 1993 for them to get that low again.Hope he isn't holding his breath.

That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

2024 will go down as, "The Year of Taking Action".Getting back in the game came with some challenges.

Providing relocation assistance to tenants, for example, if I want to sell the property or move back in - this can range from one month's rent to thousands of dollars (e.g tenant has a disability, minor children, elderly it will cost you more), depending on the city.

What you want is an agent with experience who knows how to negotiate, watch your back, navigate difficult situations, understand contracts and law, provides an objective cross-check, etc.

Partner Driven provided the full financial backing for the purchase and renovations, totaling $113,500.