The “agreement” he sent me is below (identifying details redacted):______________________RESIDENTIAL LEASE and OPTION TO PURCHASE AGREEMENTBUYER/TENANT: XXX Holdings, LLC Date: 2-16-2018SELLER/LANDLORD: XXXPROPERTY ADDRESS: XXXXXXRESIDENTIAL LEASE1) Rent: $2,500 per month2) Lease Term: 36 months, beginning March 16, 2018 and ending March 16, 2021.3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs ofthe property, not to exceed $500 per incident.4) Sub-Lease: Buyer/Tenant has the right to sub-lease this property with writtenconsent by the Seller / Landlord, and this shall not be unreasonably withheld.OPTION to PURCHASE1) Purchase Price: $ 345,0002) Option Period: 36 months, beginning March 16, 2018 and ending March 16,2021.3) Option Consideration: $100 - All Option Consideration will be credited in fulltoward the purchase of the property.4) Rent Credit: Buyer/Tenant will be credited $ 0 per month toward the purchase.5) Closing Costs: Purchaser will pay all allowable closing costs.6) Expiration: This offer shall expire on March 16, 2021.7) Inspection: This offer is contingent upon physical inspection of property andsubsequent completion of a more formal and signed Residential Lease with Optionto Purchase Agreement.8) Non-Exclusive – This agreement is non-exclusive and can be canceled anytimeby either party.9) Assignable – This Agreement is assignable with written consent by the Seller /Landlord, and this shall not be unreasonably withheld.X_____________________________ X ________________________________Seller/Landlord Date Buyer/Tenant Date_________________I have a few questions: Is this legit?

Without knowing more details about your property, the 10-15 year terms are the reason why you're paying high monthly financing costs.

Would love to speak with someone in Greater detail.

I would need to see pics and detailed bid for rehab to get a better idea, but 60k does not go far on a 10 unit. 

See section 453(l)(2) (B) for details.

I'm curious about your thoughts/recommendations here...I have a 2 bedroom unit with two tenants with declining health. 

I have not worked out all the details yet but wondered if anyone has looked into this option ever?

@Surendra Chawla Just updated some of my assumptions in prior post to give more detail.

Other than that we've had one divorce, one lost job, and one health issue.

My point was to thank Michael for clearly detailing out the rules.