In most cases, they just don't trust the investor.What are investors trying to accomplish with "buy like rent, lease option, option", In most cases it is to BUY TIME to find an assignee or to flip the property.Here are some ideas you may want to try on for size:Write a contract of sale (I use a skinny contract, one that anyone can read and understand in a few minutes) with a delayed settlement (for as long as you can negotiate), with right of possession or if occupied right of entry), and "subject to the existing mortgage"Skinny contract of sale with a Study Period, with right of possession or if occupied right of entry.Make full disclosures 1.

Just remember, you will need to buy a new property equal or greater than your sale; encumber new debt for the same or greater value than your current debt; and put all the cash from sale back into the deal. 

But if you are renting 3 of those units for $855 each, then you are using other peoples' money to pay your debt and live for free.

What threatens Chicago is the city's debt burden.W/ all of that said,  I've never been a big believer in trying to predict/time the market because I'm guaranteed to be wrong.  

I am broke, a full-time college student, part-time worker, and up to my neck in debt.

On the other side, there is enough concern about rates going up that there aren't people willing to lend into this space at less than 5% on long term money, especially since debt gets deflated with inflation.

However, my lawyer pointed out the lender does not allow the transfer to the third party/LLC and transfer could cause an acceleration of the debt (requiring me to pay the entire debt on demand).

The debtor's bankruptcy attorney will counsel them on what they can and cannot enter into, a lease would be something to have approved as it is an ongoing debt obligation and the Trustee will need that to determine what amounts are available for creditors.There is no sneaky way of taking any significant amount of money from a debtor during this period as they are under an audit of their assets and liabilities.

Debt structure has loosened up some on commercial but not to the extent before the last downturn.

We have not talked numbers or financing yet but he said I can bring in an inspector to take a look around.The last piece is that I'm self employed, earning around $30k a year, no debt, around $35k in cash I'm willing to invest, though I would prefer not to spend it all on one property.