If there's another $800 in rent on the table, the current owner should be getting it.

You might win at the blackjack table, too.

I would like a partner to split the risk and also because he brings maintenance knowledge to the table.

You are going to have to look at Dan's figures.If you are paying them under the table, then no one is getting the tax benefit which was the root of your question.

Does he really think you're dumb enough to put $100K on the table and then not make the payments?

Dating myself here :wink: ), you could buy a little red book with tables full of numbers.

Super motivated sellers are usually not great candidates for sandwhich lease options...they bring a risk to the table that can be dangerous to a lease option...if they are desperate for money thus allowing you to negotiate a great lease option that you can sandwhich off for a profit..then they obviously have money management problems and there is no guarantee they will actually continue making their PITI payments on time.

We were sitting at the table, waiting to order and giving one of our friends a hard time.

Looks to me like after the sales costs, paying off the purchase price and the $50K, and your $25K there's $65K on the table.

The other big mistake was believing that ANYONE will do all the work (with a turnkey operation) and leave any money on the table.