Now to find someplace else to spend that cash...maybe on a deep fryer or three...Some before pics posted below.Don't have a great pic of the exterior yet; this one was creatively cropped by the seller to avoid the tarp covering a large portion of the roof..Room where the majority of the smoking was done, apparently:So that's the original carpet color...

he wants to sell one now and one in three to five years when he retires.He said he is open to owner financing but he doesn't want to carry a note into retirement.What are some ways I can structure a deal to make this work. 

Have gotten three rented since then, and just got 2 more.

You can do FHA with 10% down in a three unit, but not Fannie/Freddie.

A dollar amount and the phrase "for good and valuable consideration" may or may sufficient in a transfer of title and may not be the same as described or required in a purchase contract that conveys an equitable interest.Mixing these two concepts is incorrect.When a purchase contract is made, legal title remains with the seller, but equitable title is given to a buyer, full title is in  state of limbo until settlement.Equitable title must be financially measurable, if it is not measurable or cannot be established and is an amount customarily accepted, equitable title may be limited or may not exist.

Three months later, wife was also out of job.

Problem is the new manager charged a renewal fee four months ago - something the other two managers never did over three renewals on a year long lease.

Three months later/yesterday, my prior agent text/calls asking for permission to forward the soft email copy of the inspection report (I paid for) to his new client who is considering making an offer.I SAID....No, unless your new client reimburse me for my expense for the report. 

If I were 19 and starting all over again I would buy a small 4-unit apartment building using a 5% down FHA loan, live in one unit and rent out the other three. 

It's called the self-sufficiency test.