, but I would lose a lot of depreciation on my taxes and I would capture ALL of the gains on my taxes if I ever sold it.If they sold it to me at market, and forgave $26,000/yr of the loan as a gift, then they would pay the taxes now on the sale, and I would gain the full depreciation and I would escape the gains on my taxes if I ever sell..My parents have some stock they can sell at a loss to offset their cap gains under this option.What other options are there?

And turn him into meat.

My agent's co-worker actually knew the owner of the property and offered it to me at $49,999.

Lend it to me at 10% interest fully secured by a property/business appraised at $8.2 million and hope and pray I do not pay you back and you foreclose and gain bigtime...

Also, my advice isn't free, you will be required to send me (at least) one bottle of autocrat coffee milk for my troubles (since I can't get it in the south).

However, they are offering it to me at a discounted price of $275,000.

Feel free to PM me at your convenience.Once again, welcome and I wish you the best, Melvin, in your real estate investing career!

Self-promotion doesn't bother me at all - he's earned that right.  

But what will keeping this resident cause me at the end? 

It's not an exciting flashy read it's meat, potatoes, and numbers.