the income approach is a better, more appropriate method and should be used along with comps if comps are used at all.do you know your projected noi and the prevailing cap rates for the area? 

@Dan Heuschele I like your approach and I find it very inspiring! 

but hey, that being said approach the homeowner and tell him you want to buy his home.. nothing wrong with asking!

I am looking to a sandwich lease option, any tips on how to approach this?

If you are getting a mortgage, get a pre-approval in place now so you know what you can afford when you approach an investor-friendly realtor.

So filing isn't the main source of their income, it's a more broad approach.

The buyer can either assume the mortgage if the lender agrees, or purchase the property “subject to” the mortgage if the lender isn’t agreeable or if the buyer does not wish to approach the lender or assume liability for the mortgage.

How do you guys think I should approach the owner?

This will definitely be our approach moving forward.

Besides most wholesale approaches they teach are illegal in most states.