You forgot to put your location in your profile.

@Scott GorhamSome of the strategies for buying a property if the original mortgage stays in the seller's name would be subject-to or a wraparound mortgage.

I did reach out to the refinery, but I will need to follow up with them.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

Maybe landlocked, maybe tough to get to even if not landlocked. 

I was able to see those for you here https://www.biggerpockets.com/analysis/rentals If you can't see those feel free to email [email protected] with your browser and a bit more information about where you are seeing the issue

I have had a lot of success purchasing 5 bedrooms houses next to larger universities and have been able to easily find tenants.

Jumping back to this conversation.

If so, you can't really pivot to short-term rentals there and have to capitalize on the inn vibe and in-house services.My major question is why is the current owner, who bought it after it sat vacant for twenty years, looking to sell you the problem they can't fix?