Additionally, although he says he doesn’t necessarily need to replace the income that was generated from the property, I’m thinking a consistent monthly payment with absolutely no work for him and no stress of managing the property anymore may be appealing.I need to sit down and look at the numbers and come up with an offer that is advantageous to us, but also fair to him.

The Credit Department will then generate a FINAL Commitment Letter and close the transaction through escrow.4)Pooled Fund Investing is the combining of capital from multiple investors which, when added together, create greater purchasing power (and thus more diverse and higher returning investment opportunities). 

I would view the leasing as a lead generation tool.

Who has a recommendation for a company that can get you a mailing list for certain areas and send out letters/post cards to generate leads?

Welcome to BiggerPockets @Jay Thomas People invest for several reasons.For me it's the freedom and creating generational wealth via single family and multi-family investments.Goodluck with your journey.

If you would like to avoid taxes, another option is to take out a mortgage or home equity line of credit against the property and use that money as a down payment to buy another property and now have 2 rental properties generating monthly income .Hope this helps Judah 

@Petar Tosevski you need to add value to others if you want to be successful in lead generation.

Not something I'd do with a random seller, but if it's family maybe it would work...

We've worked on generating multiple lead sources that are now coming to fruition. 

and I spoke with the bank earlier today and confirmed that we should qualify for a jumbo loan that would allow us to make this work out.The place I am getting stuck is trying to figure out any kind of realistic estimates for whether the three cabins are actually able to generate enough positive cashflow to allow us to eventually step back from our jobs and/or running the numbers for everything in a way that I would feel confident enough to try commit to something like this.Would it make better sense to try and start out with something more simple/conservative?