It complicates the foreclosure process, not to the point that a lender can't secure the collateral, but it can and does add time and administrative expense.

Depending on the number of properties he has it could get very complicated- it's bad enough when you have just one.

Why complicate things guys?

So he may entertain seller financing.You need to head to your bank and see if financing is available, being a rental will complicate things, but your purchasing as an owner occupied can most likely justify terminating the lease, with proper notice from the seller.Actually, I think you need to get to your lender, shop around, be prequalified for a mortgage loan and see what you can afford.

Between FHA and VA Loans there are over 9 million assumable loans across the US currently, with about 30% of them having rates lower than current rates (Around 4.20% as of this posting)From everything I have heard regarding the process, though I have not personally gone through it, it is different due to paperwork but not more complicated or lengthy than a normal residential sale.

Anything is possible, but it makes things a little complicated and your seller might not like a deal that has to go through the loan process.

This is a long and complicated discussion.

That being said it is so complicated and courts being what they are it is good to get some legal advice.

Since both properties are exactly identical in term of number of units, parking spaces, gross incomes, expenses and so on, I am combining the specs so to provide a less complicated picture.

In reality, the number is actually 31 due to complicated logistics issues.