Buying a duplex for cash in a challenging situation, Toledo area

[Michael Terry]

We recently put our home up for sale and oops, it sold within a week (not yet closed). We've been thinking of moving out of the area for awhile to an area with more job opportunities (not currently employed, wife is retired, and I should work a few more years if possible though we've been able not to touch the savings). Just to make things a little more interesting our daughter's divorce is finally going through. She is unemployed as well but will be receiving alimony and child support, not quite enough to live on. She'd like us to buy her a house but that would mean digging into our retirement accounts. One of the options were considering is buying a duplex for cash, living in one side and her in the other side. The goal is to live with as few expenses as possible, but have the option of capitalizing on the investment if either or both of us moves on. Would like to keep the grand kids in the same school (Whitmer H.S, Toledo, OH). Would appreciate any insights on why this might be great or terrible idea! Thanks.

[Jay Helms]

@Michael Terry - what are your goals? Providing your daughter a place to live rent free sounds like an interesting one. My mindset isn't to pay cash for a property but I'm not of retirement age. Can you acquire a 4-plex or something bigger with a 25% down payment that will not only pay for a place for you, your wife, and daughter to live, but also produce cash flow?