The more non-institutional you go with a counter-party the less consistent the pricing will be.  

Loans for investment properties are not eligible if the transaction includes non-arm’s length and/or at-interest characteristics5.

@Angel Rivera What you are suggesting is a non-arm's length transaction.

Your other angle would be to find a non bank lender (hard money) person who understands what you are trying to accomplish and get them on board from day 1.  

His character abhorred guns, blood, was non-violent and exhibited much restraint and humility. 

This may be a non-issue if your relationship with the owner is a close one.Offering lease / options property is an entire education course in itself.

I haven't found one that would do that in the Bay Area.2) the bank will likely frown upon the sale as this is a non-arms length transaction with a sizable  price mark-up.Good luck. 

Eligibility requires that you have some self-employment activity and no full-time, non-owner W2 employees in your business.

As to non-recourse, investors are almost whimsical about using this limitation, non-recourse loans do have legal limitations and applications.

Although it will definitely be harder to make a decision on a house (if the pictures are non-existent of sub-par quality), you can still run a lot of the numbers or get someone to do it for you.