Careful - sometimes the notes for sale are the ones that lenders don't want on their balance sheets. 

Purchase price: $31,000 Cash invested: $66,000 Sale price: $147,500 Converted an abandoned, condemned three bedroom, one and a half bath home with two rooms (one 30x15) unused/used as storage, and attached single car garage that we (my business partner and I) emptied (3, 30 yard dumpsters!)

Purchase price: $150,000 Cash invested: $150,000 Sale price: $400,000 this was my home for 15 years, was an old mobile home but I bought a new one July 2023 paid cash. 1460 sf. 3 bedrooms, 2 full bathrooms, beautiful granite kitchen, beautiful back lake view with a boat dock, adde a new front porch 10x12 and adding also a 22x18 back porch, private neighborhood, estimate of my home is around $400,000 What made you interested in investing in this type of deal?

Purchase price: $31,000 Cash invested: $66,000 Sale price: $147,500 Converted an abandoned, condemned three bedroom, one and a half bath home with two rooms (one 30x15) unused/used as storage into a four bedroom, two bath home with family room.

Have a conversation with your partners and mention to them that you are interested in buying them out.Make sure to factor in closing costs on the future sale in your offer.

There is a lot of land for sale in the area and I have considered buying it and slowly expanding on it as well.

After that, it will be following up with them.In sales, people work with folks they like and/or trust.

I was thinking of renting for $1900 a month for 20 years, after 20 years the house would be their's, has anyone else done this type of for sale by owner?

@Bill Brandt actually the house has gone up in value significantly since we bought it, we have a ton of equity that could be pulled tax free via sale, however we also have a 3.25% mortgage on the house and it could work well as a MTR or LTR as well.

Work with the city and local brokers to identify the exact product type to meet the housing needs of the area.