My friend in Reno closed at the end of May for full ask.

Now I 've done this once before and can't remember how it worked out.My question is, can or how can I sign a contract without handing over the full down payment?

They will need some fixing like 10000€ cause the building is old (68') and they didn't fix anything since like 10 years so it will take a lot of work.These apartments (the 1st apt bedroom and balcony and the 2nd apt balcony have a full sea view and Heraklion is a tourist attraction so I'm thinking about going 100% on short-term tourists renting. 

@Ned Carey, usually you will need to file a quiet title lawsuit before you can sell a tax deed property for anything close to full retail price, with the buyer able to secure financing and title insurance. 

So this deal was analyzed as a full rental.

You'll most likely have to go commercial or borrow the full purchase price from your investor.

Or did you mean 5 year payoff as in the loans will balloon and will be required to be paid in full after 5 years completely ?

@Jason Piper It is a little difficult to make a full calculated decision since I don't know how much money is in the deal and when additional rehab was done in the exact year.

I have a friend from high school that builds tiny homes full time.

You can possibly work with the seller and put an agreement together that if you pay the deficit in full and whatever they want on top of that amount then you can take ownership of the property.