Question from the other side, appreciate your help:House owner was trying to sell his house but didn't get good offers so he rented it out to me, we signed a lease and I gave him the security deposit.Later before move-in, the owner said the house was in a contingent sale which the owner cancelled but the buyer didn't and the buyer fulfilled his conditions and he wants to move forward with the saleWhat are my options as a tenant, move in date not reached yet and owner saying sorry go find another place to rent?

Looking back at it, I wish I owned the home and rented out the rooms instead.

Some details on the deal below:Mortgage rate on the property: 3%Monthly mortgage payment: $1200Amount owed on mortgage: $230KCurrent property value: $370KEquity: $140KDue to the low mortgage payment and high rent potential in this neighborhood I would like to assume this loan and rent this property out as a long term rental. 

When I saw the 2-family I'm in now for the price it was and rents at $500 below market and reviewing my own expenses for days I knew it was time to take the jump and made the offer.

They only rented from me for 9 months so the "normal wear and tear" should be pretty low.Unfortunately, I do not have a move-in check list on file.

Always gotta be studying the market, studying your competitors, and improving your homes to exceed the rapidly increasing competition.

If the crime is so bad and the homeless is out of control along with the chickens, why is the rent still so high?? 

He is paying a rate higher than a bank but lower than hard money and he can refinance after his equity has increased. 

I'm talking (2) $60K duplexes, and one $125K fourplex all above 2.2% rent to price in fair/good condition. 

Value comps are about 540,000 my debt is around 385,000. my monthly net CF I’d about 1,500 haven’t raised the larger u its rent in over a year due to wanting to retain the current occupants.