I am interested in purchasing the existing lease from the leasor, however I do not want to refinance and create a fee-simple property at this time.

One of the two has minimal debt but the other has a mortgage on a rental property that her family manages.

Actual real estate or hard mo ey loans involve a Promissory Note and a Mortgage/trust deed document securing the  loan with a lien on the house....not done “investor agreement”.

But even with doing all of that, you most likely still will have to pay a portion of the mortgage as its very very hard to cashflow in California.

Specialty or niche services will expand as will niche mortgage products that encourage or enable buyer broker compensation.

Will you qualify for a new mortgage if you keep this one and rent it out? 

General contractor in business for 40+ years with an opportunity to acquire someone else's unfinished rehab for ~$2M with an ARV of $4M - $6M depending on whether we finish the existing project or tear down and start over with a better design. 

We can provide you with the contact information for three exchange agents who are known for being easy to work with and highly knowledgeable.If there is an existing mortgage debt on the relinquished property, it's important to consider how it will be handled during the exchange.

Depending on the state, its either a mortgage or a deed of trust.  

Duplex can always add additional units via the ADU laws. 8) Related to the value added by the ADU, purchasing a property with an existing ADU is cheaper than buying a property and adding an ADU.