And they are using metal instead of lumber.Interested in the subject too

It states as follows:"Subject's use is legal non-conforming which means that if the subject is ever destroyed by a fire, it cannot be rebuilt as such."

Just my thoughts on this subject.

IN this market though one thing I would do .. is get pre qualified for sure get your financing all worked out before you engage anyone.Once that is done simply put your offers in looking at good pictures and subject to home inspection.. for rentals there is no need to go look at them if its in the city you live you already know the areas and quality etc.. 

If you're going to sell a property you have no equitable interest in I'd suggest you check out TX laws on the subject first.

Otherwise he said he would be willing to wait the 14 months, in order to not be charged the pre-payment penalty.Does anyone have any tips or advice on a potential subject to structure for this deal.

The Trump Book covers it well.Well written--a worthy read on the subject.

So they have the subject property +30k compared to a property that didn't have a cottage.

Also take a look at the grading of the surrounding ground to make sure water flows away from the house, not to the house.Siding can hide many damages, if you see patches or cheap siding recently installed, it is time to start asking , what and why.HVAC, how old, how old is the ducts, take a peak in the the registers, how dirty they are, HVAC handler closet, look for mold in this area, the condensate water drain condition and where it goes.Electrical panel model and manufacturer, google it for recalls.Floor carpet if any, I hate carpet because it hide damages and if it is secure you cant pulled it to look under, look for stains or cold spots, that is an indication of a wet spot. specially near baths Kitchen or egress doors.Kitchens and baths, old or new, try to look behind frig and dishwasher, they hide a lot of  water damages and are very subjectable for mold growth.

They outline the terms for 12mo as well as month-to-month and are saying if we don't renew we will just be put on a month-to-month lease, in which case the rent will be the same...