lease option?

hi everyone not sure I have a deal but I figure let me ask the pros.
someone call me from my bandit signs and is selling his house.
the house is in a nice neighborhood he bought it for $97900 and owes 73k
the house is worth between 115k-125k and he has renters on a month to month
no repairs.
my question is how can I structure this deal?

I think the bigger question is what is the homeowner open to doing, and what is it you want to do? Some specifics are needed to help you. For example, is the homeowner open to any type of creative deal, or strictly wanting a traditional purchase and sale?

the home owner is open to a lease option,maybe I can offer him 93k since fmv is 115k-125k and find a tenant buyer to buy it for 103k on a 12 months lease to buy.

What type of lease option are you planning on doing? That makes all the difference in whether or not this deal is worthwhile. A sandwich lease with those numbers is a loser. A Cooperative Assignment, maybe.

If you can pick it up near the mortgage balance and get a nice monthly spread you could do a sandwich but if not you should do a wholesale lease option on it.

How about buying it on a land contract with a clause allowing payoff at any time in the future. Then turn around and flip the property. IMO, you will get more cash quicker in your hand without having to get a mortgage or substantial closing costs.