I then told him that I have been looking for an investment property to buy, I can close fast (as fast as my hard money lender can move I guess) and I asked if we can meet at the house in the morning to see if we can come up with a win-win situation that would allow me to purchase the home and RENT IT BACK TO HIM.  

I know it's sort of "not my problem" but I also have a reputation to protect.What would you do in this situation?

That's a bit of a different situation than existing property.

Currently I'm interested in trying to qualify for a home loan which would be no more then $80,000.My situation Unemployment 425 a week ($1700 month)I've talked to one bank and they said they'll factor it in the rest none.

Some people just kind of pretend the higher mortgage payment is in the past, and just do their math on the future property and not on the net cashflow situation. 

(and sorry about the numbers...I live in LA so same situation here so I also just buy out-of-state).

These books teach you how to handle situations, how to find solutions based on your value system, set clear boundaries with people and overall understanding people's motivations and why they do what they do (which is extremely helpful in any interactions with people).

The pro is we still owner-occupy it, but in the future, it may become harder to manage.How do you guys handle the snow removal situation for your properties? 

I'm not sure what your exact situation is but I may be able to help you.  

I'm located in Northern NJ and find myself in a bit of a unique situation that I could use some advice on.