Here are some creative financing options you might consider:Seller Financing – Since the seller hasn’t moved the property in years, they might be open to carrying a note.

They would prefer a lump sum and move on.

Should I live in this house after and buy more property with the 100k or rent it out move and try to buy more property, the only problem is my area is so expensive a new mortgage would be more then what im paying now.

The goal here would be to increase rental income.

However, within three days of moving in, one family member reported experiencing asthma issues and mentioned an unidentified smell.

That's the goal!

Gaining clients from your interactions should be a secondary goal. 

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

So an investor buys the property, you pay them a down payment for the lease option then pay rent for a year and after a year you have option to buy it.What makes this challenging is the lease option payment would probably need to be around 20% of the purchase price but it sounds likeyou do not have it. maybe moving is just not in the cards.

Looking for some input...I'm working on educating myself more when it comes to various tax benefits and trying to decide what would be the best route for me moving forward.