Also, sharing the rent with the current owner is an odd arrangement....is he doing the work to get it signed.  

We also live in the Williamson Valley Area, about 2 miles south of Stage Stop Texaco.  

I'm still in the very early stages of developing that solution and the means will shift and change as I gain more knowledge. 

If the option price has installment payments with the amounts credited to the sale price you have a financing arrangement.For all the thinkers out there, agreeing to a lower than market price after an option price has been paid without credits to the sale price is still a financing arrangement.

Hey Chelsey, I just moved back to Morgantown and I am in the early stages of learning.

Once they provide me everything I need, and I'm able to arrange financing, or assign, or whatever my end game is, it's no longer refundable.

We are looking at how to overcome this long term, we just happen to have 5 properties in various renovation stages. 2015:Triplex in New Britain- BRRRR complete and fully operational.2625 Rent Roll 100,000 acquisition 50,000 renovation, 140,000 refinance out 190,000 valuation (Regional Bank)Total so far 3 Doors:  $300 Cashflow/ month per partner (all reinvesting) Duplex in Manchester- BRRRR started in October 2015 completed in April 20162500 Rent Roll 60,000 acquisition 60,000 renovation, 140,000 refinance out 190,000 valuation. 

I think the main issue I would run into during my initial stages would be raising the proper capital needed to be taken seriously in the commercial apartment space. 

I would also say ditto on keeping in mind your relatively early stage in life.

They have account setup fees, monthly fees, ACH fees, etc. so it's not cheap but also not as suspect as this very vague arrangement.