They wanted to own their own house and free to make any change to it. They changed the carpet on the first floor to wood floor before they moved in. Also they wanted to deduct the mortgage interest with their tax return.
We did two terms rent-to-own with two families before it was sold, and either of the families wanted to buy it at the end, the first family bought a house with an in-law suit since the mother-in-law was moving in with them, the second family no longer needed a larger house since they got divorced during that year.
We would prefer to sell it since rent-to-own is not much different from rent, we moved out of the state, when something was wrong it was hard for us to take care of the problem.
It was a challege to pay off the mortgage, but we managed to get it done with their down payment, they wanted to put $10k down and we told them to put $20k down to let us pay off the mortgage so we could do owner financing. They had money, but wanted to keep it with their business.
