Because a house purchase is a significant investment in one's life, it is worth your while in having a title attorney to ensure clear title and smooth closing, along with a good inspector to assess the investment property's condition, a good realtor that will protect you with the contract, and, of course, a good mortgage broker if you need financing for your deal.   

(All new accounts need to be two months old by the time you make an offer and go under contract - according to my lender).This seems like such a hassle just to be able to split the down payment on a conventional loan?

Hopefully the Seller is willing to work with you, and you can make a deal similar to that...also I would make sure I put a 180 days until close in the contract plus 2 - 90 day extensions. 

Generally i try and stay away from contracts and deal with straight purchases but given the condition of the house i do not have sufficient funding to buy the house outright.

If he doesn't pay you should be able to evict him for breach of contract.

New Affixed mobile homes under contract.

@Mike DornemanYou could also stipulate in the contract that the owner must provide written month to month leases at closing.

Can't get a contract fast enough in Seattle?

We have a property under contract and just got word today that we can close this Monday.  

@Jim Hendershott my name is Terrell johnson I'm the owner/operator at dcm contracting service I'm licensed and insured my prices are very competitive, I have a very extensive renovation portfolio please feel free to contact me via Facebook Terrell Johnson because this site won't allow #'s to be posted.