It may be possible. I've sold a Freddie Mac home with the same scenario. When Fannie offers you cash for keys you will have to ask at that time. In the Freddie Mac situation, the buyer asked the person that offered cash for keys. That person asked the asset manager and the asset manager said if the tenant can provide a preapproval letter, they may be willing to sell to the tenant. Long story short, the tenant contacted me, I referred the tenant to my preferred lender and a few weeks later the bank told us the asking price, we submitted the offer, and closed the transaction aboout 30 days later. If you have additional questions contact me at 951-906-6355.