He is sick and cannot maintain the property To avoid due on sale and foreclosure against him,  he could just lease it to me for piti (pay straight to the mortgage company) and I would sublease it for cashflow.

Especially in the Yonkers/White Plains area. 

To makes things worse, i looked over the contract, and in it Fannie Mae agreed to give me possession at closing; plain and simple.Has  anyone run into a similar issue before?

You're not in a flood plain or hurricane zone in CO, are you @Don Nelson?

They are sick of dealing with them.

When he got sick and getting down his wife divorced him and kids had no time for him.She was moving to another state.     

Oh and I learned what a "put" and a "call" were in regareds to investing in the stock market.I have purchased, rehabbed, and currently seeking tenants on one home and  have made an offer on another.I have learned so much from the podcasts and videos and just plain stalking the forums it is amazing!

Maybe they are sick and tired of being a landlord and want this albatross off their hands.

Thanks @Andreas W. and @James Mc Ree Thanks @Herman Herrera i'll look into it.Thanks @Jeff Filali i guess i have to buy a few more houses to replace my income for the health insurance. you know most of time you don't need it when you have it(the insurance). you only need it when you don't have it. i don't like seeing the doctor but who knows if my kid fell, sick..etc. you are absolutely right. it just an entrepreneur mindset and motivation that i need to work for my own company and have my own salary, benefit, insurance, 401k etc. i am seeking for freedom to be with my family  more that's why i want to quit.

His escrow officer has been out of the country on vacation, and then sick, and will be back tomorrow to work, to the countersigned contract that was faxed to her six days ago, with a 14 day close, and now has expired dates on it.