While his loan isn't assumable, you could structure a deal where you take over payments while giving him equity in a seller-financed second note.

It's worth about $350,000 and no liens.I was thinking about making it a midterm rental or a short-term rental but it would require quite a bit of work and would require getting a home equity loan.Also considering selling and buying a turnkey str.I do plan on leaving the country and I'm not sure where I'll end up.Would love to hear the pros and cons from all you professionals.

What the concept you mentioned is talking about is leveraging equity to gain cash vs. selling essentially. 

Luckily, I did have equity in all of my properties.

That video will go over a complicated strategy to help you get a primary home without much of a down payment and with built in equity. 

You didn't write how much 'sweat equity' you put into this place, but it was likely well worth it given the $400K cash out.  

Part of the reason we have that equity in our homes is to tap into it and turn it into even more wealth.

I built a house and it’s going to be difficult to sell as I have no equity in it because of Cost to build.

Hello,We have "trapped equity" in a long term rental condo and are considering selling it and doing a 1031.

You have to be willing to sell your properties and access the equity to buy up.