IMO if you chose #1 now you can always choose options #2 or #4 six months(maybe a year) down the road, pull all your 60K back out plus what ever appreciation you have(if any) and move forward. to me in option #3 you said paying interest bothers you and option 1 solves that problem, gives you practice with a new tenant so if they don't pay or u have problems you don't have 2 bills( your old mortgage and your new mortgage) to manage along with the stress(of kicking out your friend and finding a new tenant) just the one mortgage that your fiance already has within his budget(because your 60K didnt' factor into bank financing so you found a home to move to that was within his budget alone(even more safety net) or at least lower mortgage payment and house than if you had 60K to use to buy-down another home. but i digress....Option #1 is less stress , less interest payments,and less of your money with 2 options left over at a later date. like joe said your 60K is safely locked away in the home(minus depreciation) which you can always pull out later on when you are more risk-prove.Still your choice but that my point of view.Good luck!

Your payment would go to them, they would split off the loan payment and send it to the bank and the balance could go to the owner.You can also record your lease on public record which would likely  put you in a chain of notifications if the seller ever tried to sell or in the event of a foreclosure.

I still do buy for my bird dogs so we close and I take title keeping every thing legal then do what ever work we are going to do THEN market the property.. not before..

I would want to see them before you should ever buy. 

Personally I think $100-500 is the most I would ever pay for this type of deal.

Plus you will be leveraging partnerships and other people's experience.Send me a PM should you ever get interested in commercial (5+ units) multifamily apatment investing. 

Great article on the future and current projects happening in Henderson. https://www.reviewjournal.com/local/henderson/hend...

Antoine best post I have ever read that you have done.. free and clear assets is where real wealth is gained in real estate. 

If it was in a neighborhood that I liked/cash flowed I would start calling the owners and asking them if they would ever be interested in selling.

Here's an interesting fact.Howie Hubler, guy responsible for arguably the largest trading loss in bank history, is now an enormous owner of section 8 properties across Gloucester County.