If he lives there, he can sell it, claim the gains with his wife and exercise the 500k exemption allowed by the IRS.http://www.irs.gov/Businesses/Small-Businesses-&-S...Otherwise he may just want the speed of a cash transaction.

I would absolutely do it if the numbers work.My 401k allows up to $50k in loans which I have exercised multiple times.

I have read (but never bothered to verify since it is not a business in which I am engaged) that the number lease options successfully exercised by tenant/purchasers is abysmally low.

Then, once you sold it, you could exercise your option and buy the house from her with a new mortgage, and take our her existing mortgage.  

I don't believe this is a deal but I think this will be a good exercise in learning what to look for as although I do wholesaling my main goal is to buy and hold multi-family properties.

Once they exercise their Option, I pay off my underlying Option and pocket the remaining.

However with a Lease Option any fixing you do to the property is not yours until you exercise the Option.

Hence this call might be more of a training exercise than a deal that produces cash.John Corey

In order to help alleviate these difficulties and to enhance their functioning, I recommend ___________ to have their emotional support animal in their home and in other appropriate locations.

Would I need to structure it as a 2 month lease with 10 monthly renewal options to be exercised 30 days before expiration?