It is a buy and hold for him and he hopes the payday will come in near future when he sells.  .  

@Marcus FogleI like the instant projected equity in your deal ($10,5K).

I've got a tenant on vacation asking if they can pay me tomorrow instantly.

together + My real estate minds co.can also assist you any locating gold mine property(multi family , single family,commercial, Lot etc)in all 50 stares with great % returns and that will instantly meet your criteria of   profitable gain + monthly residual income leave me your contact information and me or one of my  reps will touch base with you as soon as possible. hope to hear from you soon and god bless!!! 

Inheriting existing tenants sounds nice in that you get instant cash flow, but the down side is that you didn't screen them so who knows who the owner placed in there to claim 100% occupancy. 

If you win, you become instant owner.

I guess a lot will come down to your investment strategy, whether partnering is an option, and in this case, the speculative risk of a appreciating asset v instant cash flow. 

You have to trust your own instant and if you like a house have your agent but in a offer no matter what they think.

When pay day comes, you'll give them what they originally made, and 25% of your personal profit to help make up for covering those expenses.

I see two reasons for this: a guaranteed instant profit plus the ability to realize that tax free when selling.