If you buy this property the lease stays in effect.

Take a look at Jerry Puckett's recent blog on effectiveness of mailing campaigns. http://www.biggerpockets.com/blogs/1378/blog_posts/24464-building-your-direct-mail-marketin-machine

Can one lawyer close for us?

Effectively, the seller is taxed on the interest spread.In both scenarios above, the seller will also pay capital gains tax on the portion of the buyer's payments that represent profit on the sale of the property.

A RE lawyer told me it could be done, just written in...anyone have an "sublet" agrmnt like this?

Seth, I'm also not a lawyer, so don't know the legal aspects, but I have had many recent frustrating experiences with homeowners and condo associations.

I've looked at a lot of options and it seems like icf and sip are the most cost/time effective vs. stick building.

Let us know a little more about yourself.BTW - Here are two tutorials that I think you and any other new users will find helpful about using the site:- Getting the Most Out of BiggerPockets: A Tutorial- How to Effectively Use BiggerPockets to Build Your Business

As others have said, it's super easy and you don't need a lawyer.

I actually looked it up and found the news article ( with video ) and it turns out the killers lawyer was a girl I went to school with!