Lovnliving, you have a very cheap rent but the owner is getting someone who is making his property better. He will probably want to retire there. You may want to take that into consideration while spending your money on his place. The feds will try to get rid of the mortgage deduction shortly and if they succeed renting will become the rage. Good luck.
Kenc, even if he does retire here (he's 56) and even if it allowed me only 5 more years here, I'd be the happiest guy around having been given the opportunity to live at a place I've only dreamed about.
The future holds no guarantees so I live everyday as though it may be my last day here. But FWIW, he has no desire to live here (it was his dad's place), only to keep it from being sold and developed and pass it on when he's gone. For him as he lives an hour away, he no longer has to drive in 2-3 times per week (poachers, upkeep, etc.) and he knows it's being maintained and cared for.
I do have much invested here but the return I get on a daily basis is worth every dime and every aching muscle. I'm rewarded every day I pass through my gate entering the property.
To me a small price to pay to live at my own secluded campground, complete with pond, forest and running creek.
The way this place looks now after being neglected for the past 5-10 years is fully attributable to folks like you on PB that help rubes like me realize a dream.
Thanks for the good luck wishes!
PB Rocks!
