You need to be truthful in explaining what you want to do, touch on the aspects above, leaving out information that may apply is simply going to get you the wrong answer if you try to hide some aspect.

I would buy it "subject to" contingent upon the loan being modifiedThe lease purchase option part once you have title and once the loan is modified and perhaps you need another attorneyAn Important aspect to lease purchase with subject to" to quickly get new tenant buyer a new loan like within six months or less@Bill Gulley

You came to the right place to learn about various aspects of real estate and more!

Welcome to BP family @Joe Pham You came to the right place to learn about various aspects of real estate and more!

Welcome to BP community @Shea O'Neal It is a great place to meet new friends and learn about various aspects of real estate and more. 

There are some amazing tips from fellow flippers, in addition to information about all the other aspects of real estate investing.Have you considered upgrading to a Plus or Pro Membership?

Yea Idk what I want to do as far as that aspect yet but am looking and learning while I decide.

It is a great place to meet new friends and learn about various aspects of real estate and more.

Welcome to BP community @Jason Limbers It is a great place to meet new friends and learn about various aspects of real estate and more.

But I would recommend having one prepared.Items you want to consider are: what happens if your disagree on buying a property or on a aspect of a renovation or sales price, what happens if the project needs more money and one party can't or won't contribute, what happens if one party wants out mid-project, or one party makes a big decision without consulting the other party.