You're better off doing either one or the other; either rent or buy. Mixing the two makes an already complicated transaction even more complicated. The market changes; how can you predict what the home will be worth months or a year down the road? What if it's worth significantly less at that point? That would be a rotten deal. This is just one example of the infinite amount of issues that could come up during your rent term.
If you wish to buy, it's best to talk with a local lender. Then talk with a local Realtor. The lender can establish your ability to borrow some coin to buy a home. The Realtor can help you find a home, negotiate a good price, and make the complicated buying process seem like smooth sailing.
Pick one agent you like, stay loyal to them, and stop yourself from calling or emailing another agent with "just a quick question". When you start contacting multiple agents, things get even more complicated.
Give me a call, I'll take care of you - 520-232-2091 or BenSchutt@TierraAntigua.com.... more
From my experience with a short sale, If you sell with a "short sale", you won't be able to buy another home for two years. Arizona is a property state so it will affect both of your credits. You should talk to your accountant before making a decision and or an attorney. You may be able to get a modification plan with your lender and keep the house.... more