If you do not want to do a syndication, are you planning on starting your own property management company, or just building properties outright and then hiring a 3rd party property management company? 

BTW, if your family member is trying to negotiate a discount, the only likely avenue would be a short sale and no other family members would be eligible to buy it through a short sale due to arms length transaction and non related parties restrictions for the short sale. 

Both parties should be trying to do this. 

Was just trying to think of how to work a creative deal that makes sense for both parties.  

A good title agent will be able to guide you through the transaction process of what paperwork is required from which party and which point in the process. 

A lease is easily terminated if both parties agree, and many tenants will agree given the right circumstances.

Wiedenmayer I'm not familiar with the specifics of your lease/situation, but generally speaking the landlord is correct that in a year lease, either party is supposed to provide at least 3 months notice of termination (see RIGL § 34-18-37.

So, as the buyer, you can negotiate terms with the seller that make it a win win for both parties.

I've done a number of campaigns for small and medium sized apartments around the Country and the toughest part is always building the list that points to exactly what you're looking for.Great job man! 

Talk to all parties involved and you can usually come to a mutual understanding very easily.