The union won't assist even if he were working out of the union hall (I don't know can you still work out of a union hall?)

@Lisa Millerhow did it work out?

Should I consider a "month to month" lease for both of our benefit in case the situation doesn't work out?

The better note purchases are in connection with a work out with a lender or in slow performing loans, a lender may be willing to take a bit of a hit as it costs them in term of such loans effecting reserve requirements.You will never be able to call an insured lender and obtain loan information of an active loan that isn't offered for sale.

Perhaps what she considers "noisy" is what most people consider "normal" noise level, so it may not be a big issue.I also always rent month to month, so if things don't work out (noise complaints, etc.), I can just serve a notice to vacate, and don't have to wait out a lease.

hey Deadrick, it is a long shot, but I might be willing to negotiate and follow up if it is a good location.If you want, send me his details, and if I ever work out a deal I will of course keep you in the loop.

I am very interested in hearing how this deal continues to work out for you.

@Dawn Anastasiif you did do a rent to own and the previous tenants did not get the deed with it how does that work out?

After the closing we had to go make a deposit because our old landlord had already collected all of the rent and what he owed us from that was more than we owed for the down payment.Those were the days...The partnership didn't work out (and let me tell you, that was expensive) but that one deal earned us  over $600,000 during the 16 years we owned the house. 

Make it a month-to-month rental agreement, which gives you more flexibility if the tenant doesn't work out.