The simplest way to do it is to have an interest only loan with a balloon payment in 15-18 months.

People think its the simplest and cheapest way to get involved in real estate, however its actually very difficult.  

There are several ways to accomplish this, the simplest probably being an LLC with ownership interests.  

You need capital to invest in non-traditional assets such as real estate.If you are just starting out, perhaps a Solo 401k with Vanguard would be the simplest and most cost effective way to go.  

The simplest way I've seen is that you create an LLC, each making capital contributions, and you have sweat equity, if no cash is coming out of your pocket, as your contribution.

@Royseve Zamarripa in simplest terms, i think you should rent if you MUST, but own if you can.

One big bank in particular is often very competitive on the interest rate pricing, but I know from experience that it takes those idiots 2-3 months to close even the simplest of transactions no matter how well qualified the borrowers are, even if they are putting 40% down.

Once you're in, experience and knowledge will follow and success will begin to grow.The simplest path to success is learning what has made others successful and putting it into action for yourself. 

you got to be cautious with Dodd Frank with the terms rent to own in the marketplace"Lease then buy" might be a better term or "leasing to buy"The simplest way is see a good mortgage broker, have an understanding of FHA originationGive a lease for 12 months with a ROFR or right of first refusal, not an option.  

Not saying that it can't be done  Overcharging people $15,000 from 115 to 130 I wouldn't agree to In Texas sandwiches are illegal, you need fee simple titleRemember Tenant buyer needs to get mortgage and the purchase price should be at appraisal  or they're not gonna get the mortgage unless they bring a lot of cash to closing  In California the brokerage laws are pretty strict and you can run into hot water with the Bureau of real estate in Sacramento if you're performing duties of a licensed agent, like showing the house to a tenant buyer The simplest ways to stay out of trouble in certain states is to get a sales license and list the house for creative terms such as a lease w option sale, lease purchase sale, wrap around mortgage sale, etcI don't recommend new people with sandwiches  unless they have researched the local brokerage laws and they have financial reserves to pay bills that are incurred if the tenant buyer needs to be evicted and property needs to be re rented@Bill Gulley may want to add