Things look favorable to me though.

They are definately in favor of it, but not sure how that works with commercial properties.

There are many authors out there who make it seem very easy and glamorous, but there are some harsh realities when it comes to REI, and these guys do their readers a favor by pointing it out.

For once being poor worked in my favor.

Your agent should be on the phone letting the selling agent know that there's a bonus for him/her, that you're flexible with helping in closing costs, etc.You need to tip the scales from 50/50 to heavily in your favor, and this is an opportunity for your agent to step up and do that!

Buying a home first will allow you to get permanent owner occ financing at favorable rates.

Do us a favor and submit a profile picture.

Understandably, the owner doesn't favor opening up finished sheetrock if its not necessary.

Get all the stats on the home make a tour and then examine all the sold homes within a mile of the home that compare favorably with this property and then take the average of the "sold prices" to set a preliminary "List Price".

Ok - so they wont be buying the property together.Comparable homes in the area have sold very recently for approx 200K but this owner would sell for $150 because of years of rent and improvements this person has put into it.These are not investors they are friends and are doing favors for one another.Now, my family member would like to buy the property outright, keep in his name, then perhaps re-sell, or put this renter on a lease-to-own.If they do buy the property for $150K, what would be some basic numbers on a lease-to-own agreement?