A bunch of questions come to mind without knowing the full details, but the main thing is if this fits your investing goals.

If you are always gone on Weekends could be a good fit.

Always make an offer as long as it fits your parameters.  

Maybe just ask him what his timeline is and will he be able to fit the rest of your project in? 

Following what others have shared on this thread, you may find good investment opportunity that does not fit into the 2% rule, but still makes great sense to purchase.  

I guess with a question like that any answer can fit.

Sounds like a great deal but if you can't take it down yourself you should definitely consider a partner.That being said, a hard money lender may loan you the whole amount if the project fits their model.  

Always confer with a lawyer, particularly one who specializes in this type of knowledge as I have come across ones who are just as ignorant about these laws and regulations. 105 CMR 410.000 MINIMUM STANDARDS OF FITNESS FOR HUMAN HABITATION940 CMR 3.00 3.17: Landlord-Tenant254 CMR 7.00 Apartment RentalsMassachusetts General Law Chapter 186Massachusetts Security Deposit Law: One of the most neglected rental laws in Massachusetts and one of the most disputed between landlords and tenants.

Plus, they have excellent interest rates compared with banks.Nicki Schreibvogel is a great real estate agent who works hard to find the house that fits your needs.

Julio if the scenario fits the criteria to use a HML then yes.