Posted by JohnBoy on April 23, 2002 at 18:33:25:
Does he owe anything on the property or is it owned free and clear? This could play a big part in this as to how the deal may be structured to be beneficial for both sides.
If the property is owned free and clear, does he need any cash out of this or is he willing to carry it all if you can work it out to where he can stay in the property?
What are the other 2 units renting for? Are they currently rented?
What are the taxes on the property?
There may be a number of ways to work this but we need a lot more details.