@Jorge Ruiz, I just realized there was enough detail in your original post to work out the Seller's asking price after all.

But I don't think I'd entrust a PM or other stranger to care for a property that can't be profitably turned into a long term rental should the STR thing not work out.

Owner financing must please the needs of the seller, lump sum now or later, plus the monthly payments which you two work out to please you both.

And if so, how did it work out?

If you network well and commit to being available when you say you will be then it will work out.

Those that have actually gotten some kind of loan workout arrangement in place with their bank are the ones that just happen to open their doors and tell you the good news... interesting how that works.

Will look into the cash for keys option if the CPA/lawyer route doesn't work out.

As I've written on other similar threads: I'm always suspicious of Reports that already have their desired $ profit in mind, when voila, the figures somehow magically work out to give that exact profit margin!

@Aliz Rao I'm not one to be negative, but there are so many red flags with this transaction that I would never have advised a client to do this deal...maybe have an exit plan in place just in case this one doesn't work out as you had planned...you're upcoming out of pocket is going to be massive over the next year...huge carrying and renovation costs...and best case your returns don't make sense for the risk you're assuming...

However is it cash flows today you are getting a benefit even if the purchase doesn't eventually work out.