I have an opportunity in the commercial R/E space. Need advice

[Devin Arand]

I need some advice here. I am wanting to get into Real Estate investing and am starting to get over the analysis paralysis part...I'm ready to jump in and conveniently think I have a great opportunity at the same time. My father is trying to retire. The only reason he's working, is so he can pay the mortgage/bills on his office space. Once he sells that, he will retire so he can spend more time with my mom. He just had it appraised at $160k, and owes $103k. He told me (not knowing that I may want to buy it), that he just wants to get out from what he owes, make enough to pay his realtor and maybe walk away with a few grand (let's say final sales price of $120k). IF, I can find someone to lease the office space, I think it'd be a great way to get into a property and have equity from the get-go, without any cash in the deal (besides closing costs). I'm thinking we can probably do a gift of equity for the money down (I'm a former commercial lender, and have done this before). Any advice or thoughts on this opportunity, or thoughts on the office space investing right now? Any suggestions help! Also, any advice on doing a deal with family? I've seen this go really well or really bad when family members do deals, and family is everything to me.