Purchase price: $45,000 Cash invested: $45,000 Single family buy & holdHey @Malcolm Grundy!

I'm looking for advice on whether I should purchase my father-in-law's 6 unit apartment in Burien, WA (10 minutes south of Seattle) as my first deal, or perhaps help find him a seller that would pay more than I could and is a couple years ahead of me in REI. 

If you have not already purchased this policy, I would look for a policy that provided a stated amount deductible for wind/hail vs. a % deductible.

Other considerations are the lost costs to sell and re-purchase other properties.

Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

Purchase price: $340,060 Cash invested: $68,012 Long term hold.

We would prefer to jump into the market with a duplex, triplex or quad as our first purchase. 

It is also not an option to not renovate as she came with the house when I purchased it and absolutely trashed the place. 

I also am a member of the International Real Estate Federation, and can connect you with agents who are able to help with your purchase.  

I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month.