Skip all the baby steps, get right into the meat and potatoes. :)

Thanks Shawn. 1/ That’s true but I meant to stay at first at this home but due to a job opportunity I have to move2/ that’s true, he is my relative so is charging me at a discounted price  3/ True4/ yes I can afford to keep the property and take the EMI hit , but on longer run may have to rent out or sell .6/ Pre payment penalties are none.

The sheriff and city wouldn't move it for me.  At

He's rented from me at least 3x before.

@Jason Cook it all depends on your market.

Seems the seller just wants you to have more meat in the game, more commitment to actually close. 

Or, he's cooking the books.I would probably work with my lender to sort out how they will respond and what numbers they think are right and will support in underwriting.Then the conversation goes, My lender is concerned with the large delta between reported and estimated income and will only write this deal based on the reported income (or whatever they decide), as a result, I can only support this purchase price. 

Given about 4 drinks per week he buys off me at an average profit of $0.50 average per drink I make around $2 a week after expenses. $8 per month is enough to buy 2 different 12 packs of my wife’s favorite soda pop for the month so for the little labor of picking up a few extra cases of pop and keeping them in my trunk we have effectively “soda hacked” our way to free pop!

But they do cook a LOT, never turn their lights or TV off & run their window-shaker a/c units 24/7 all summer.

I’ve gone both ways, usually the lease is good enough for me and would probably hold up in court, at least in my small midwest county, but Cook County is a bit more tenant friendly.