I have a duplex under contract. Its worth approx 100k, bought for 90k, $650/mo principal only payments with 4 year balloon. The upstairs rents for $625/mo and the downstairs rents for $425/mo.
I want to sell it on a L/O to a tenant buyer. Can I structure it as follows?
Upstairs tenant buyer pays option consideration = 2k+, rent is $850/mo with $300/mo as rent credit (tenant pays extra $200/mo, I chip in $100/mo rent credit. Purchase price is 120k in 4 years.
–All while keeping the downstairs rent of $425/mo.
Thanks