So I am trying to be creative to avoid over paying for a property.

What creative or innovative ways have you seen RE businesses make their mark on their respective communities? 

I do plan to branch out later to be more creative, but for now, this works.

The current owner only pays $100.I was thinking of striking a creative finance deal- Lease option for 5 years at around $700 - 800 per month and sub lease it at $1350.

You may need to get very creative and perhaps find something that someone will owner finance with little or no down payment.

You  will  need the help of an attorney and account the question to ask  to be able to do the creative structuring  of your partnership  with a plan of action  a organized  plan of action and  aware  of the pitfalls  and opportunities  just doing this with family will not  be enough  you will need  professionals who know the laws  of syndication

@Anton Gladden with only 10K then your financing options would be FHA or creative financing (seller finance, private money, hard money). 

I do miss the creative side.

So incorporating, Fed EIN#, business plan even business bank acct are a few of the first business steps that help you present yourself to private money lenders on a different scale.  

Some additional thoughts were to turn it in to a group home and just collect rent (typically higher than fair market), re-rent it and throw additional principle at the note each month to decrease the potential loss then dump it when I'm comfortably low enough.Trying to get creative here....ill keep pounding the pavement.