This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

You can finance it with an FHA loan (3.5% down) or a conventional loan (5% down) if you plan to live in the property.

I can't house hack because of the family situation so I can't be approved for regular loans that require you to make the property your primary residence. 

The friend who shared this deal with us offered to provide the loan.

I have other mobile homes which have been moved more than once and therefore will not qualify for a VA or FHA Loan so I'm doing  Rent to Own alongside a Rental Lease so that I can evict instead of foreclose on. 

Learn local landlord-tenant laws, FHA and VA loans, and property management software to streamline rent collection and maintenance.

This is why I use a loan broker...I want his experience with who can do what they say and who is a delay. 

So loan it is.A few thoughts/questions on my mind that I hope to learn as I continue my real estate journey:1.

I see little benefit in the FHA as an option as long as the 5% conventional loans are available now.  

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.