Seems like skewed reasoning, as though they wouldn't mind financing me if I had simply paid $30k more for it!

Please don't think me lacking Christmas spirit, but why would this site solicit donations when it's an advertiser-paid for-profit commercial board?

The lack of income will be a problem.

The basic idea of a lease option is pretty basic but the details are what will make the experience good or bad.The way that I do lease options and the most successful way I have experienced is to lock in the sales price, give a 3 year lease, and require the tenant to make all repairs.The other thing you are talking about is purchasing the home "Subject To" which simply means subject to the existing financing.

It's simply a dud and "terms" won't fix that.Minna - YOU CAN DO BETTER - a lot better!

We are simply having to pass on them.

Simply because it's an assumable loan and they don't need to qualify?

There has been horrible accounting as to where exactly the money has gone & I do not expect that to change.In my opinion we are simply debting ourselves into a greater problem.

I may have given you the wrong idea of what is going on here.. the heloc will be used as a last resort only.. the house she's buying because she tried the "live with parents after the divorce" situation and she simply cannot stand it.Knowing that she's got to get out of that situation I'm scared to death that she'll take the easy way out and try to RENT something.

They're essentially apartments, but lack the onsite management.