If it was free and clear this wouldnt be an issue and would be pretty straightforward.I have a plan in place but I would like to hear how others have gone about this or would go about this?

Since there is no debt there is significant cash flow that I need to maintain for the health and well being of an aging parent, so I will be trying to keep the payment within a range of 6-6500 a month.

It seems to me that there might be a DTI (debt to income ratio) issue, the programs available are pretty straight forward. 2 options here for owner occupied, FHA with 3.5% down but you will not be able to use rental income on the 3 units so that’s why I said there could be a DTI issue, maybe your income cannot support the monthly debt, the other option is to go conventional and min downpayment is 15% on a duplex since you are no longer a first time home buyer.

Depending on your income and credit, you can get your hands on an unsecured loan pretty easily and at rates that aren't too awful. 

I'd pay you more for pretty much anything that's in good condition than for the same thing in poor condition.

I'm pretty sure that even though the documents says it ends in 2012, by continuing to accept payments, both parties have (by their actions) agreed to an extension...with no end....or......For some reason, the agreement stated the Option to Buy happened AFTER 5 years, with no apparent time limit. 

The seafood and fall colors around here are pretty spectacular - but it's a crazy state.

I'll look into the Wind Mitigation savings when I do the roof since I'm pretty sure it wouldn't be up to spec.

Scheduling, skip tracing, data entry, photo editing, pricing supplies, transcribing calls, etc. are all $10 an hour items you can outsource pretty easily.I think local $10/hr tasks are harder to outsource like placing bandit signs, picking up materials, etc..

He has money he is looking to invest and I have more experience than him and have done a lot more reading and research than him, even if I am still pretty wet behind the ears.