His current rent would double with the finished space.I completely get that this is a business transaction and the smart thing to do would be to remove him to be able to finish the basements and get rent.

I could put the property under contract and that would give me the rights to sell it, but would they even consider buying it with the assignment fee or would I double close?

I'd planned to sell my current 4 bedroom rental property and purchase a duplex-fourplex for my first step.  

And yes it is Danny and he was impressive on the phone and seemed experienced but I wanted to double check.ThanksErick

That is about right for a down payment, I would double check your numbers, or possibly ask people on BP to help with it though, because that would seem like a pretty good deal assuming it is in a decent area.

While I was looking at more traditional three or four bedroom SFHs, I came across a FSBO 1 bed/1 bath 450 square foot home, built around 1950, being offered for $45,000. 

I live in a one bedroom condo in the North Dallas area, it’s walking distance from Addison.  

I told them there were four bedrooms and there was nothing they can do.

Situation: Contracted for $95K, 1150 sq ft, 3 bedrooms, 2 baths, built-ins, bay window, 2 car garage, front covered porch, very cute.

Also, the rental unit has 3 bedrooms which are all rented out to different individuals.