If YOU buy it and then rent it out to him then you'd have to front the 20%-25% down payment 3.

So at an LTV of 75% that is a cash out of 240K. 

One option is to have the buyer use a loan to buy out your existing mortgage, and then you can carry a second lien on the property for the remaining balance.

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

Get out of your comfort zone.

A few months later, we received a notice from the lender stating that we no longer had home insurance and needed to secure coverage within a certain number of days.As it turns out, our original home insurance was canceled because it required the property to be owner-occupied.

Should you ever have any questions feel free to reach out. 

I've read there are pass/failed inspections that let you walk out of the deal but you don't get to ask the seller to make any changes or credits.

You will sign an affidavit at closing that you will use the property yourself for at least 15 days out of a year.2. and you cannot use rental income to qualify.

We won out mainly for purchasing without a loan (yes, hard money, although strong, can still go sideways in a deal).