Option 3: Pay large down-payment on modest rent ready house. 

Explicitly tell them what you're paying for it so you can get the exact number.Also, we do a 25% property tax relief in SC under the ATI bill - so if you fill out that form, you will get a reduction for 5 years.Info below:ATI Real Property Tax ExemptionSouth Carolina law now allows a partial exemption from taxation of up to 25% of an “ATI fair market value” that is the result of anAssessable Transfer of Interest.

We explained to him we would pay for probate and pay to fix up the house to get it rented.The lease is for 5 years but dissolves once we close.

A good deal for a retail buyer is something they can pay for which has most of the amenities and location they want.

Quote from @Paul Lucenti: Would you rather have monthly cash flow or would you prefer a quick pay day after 3-6 months?

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.

HCV in the area pays $2,200.

Its great for me where I need to adjust to paying a mortgage and was worried about my monthly payment a little bit! 

You’re not going to find a safe way to do what you want unless you or the “buyer” has enough cash to pay off the note. 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.