I am just hoping that it will be even by the time my buddy is ready to move. 

I have a buddy who has a number of themand has started managing properties for others.

It makes intuitive sense that you would do that absent any underwriting or mortgage stuff mucking up your plans.If you have a lease that says they are moving in prior to you moving out, it doesn't make sense that you would voluntarily be homeless, thus making it look like you dummied up a lease and had a buddy make a security deposit just to check a box, which would be mortgage fraud.

I suggest you not go 30  years with a note going to an estate, your high school buddy may very well look you up with an unpleasant attitude messing up his parent's estate in their elder years, but check with an attorney familiar with estate requirements.......you can also address such issues with a conditional demand feature, if this happens then they can demand full payment in 6 months for example.

My buddy said it was, so I told him to just offer $8,000.

I have a good grasp on what I can get siding, windows, trim, interior/exterior doors, decks, guttering roofing, flooring, landscaping and concrete done for and who to use/where to source materials, along with electrician/plumbing -- lacking site prep, foundation/framing/roof trusses cost -- I could get the cost of the rough in from a buddy who runs a plumbing co.My challenges are A - not being able to be there all day to run things, and B - still missing some of the key contractor connections.  

I got more reading BiggerPockets my first three days than my buddy got from the Than Merrill three day seminar.  

It's my college buddy's house.

Good luck buddy!

I know I can personally do better in the stock market or peer to peer lending with those rates.So I've been talking to a couple buddies out of state (OH, MN, ID, etc..) where the markets aren't as crazy as the greater Seattle area.And I have been baffled by how cheap the prices are and have run some calculations which provide a way better returnI'm under no illusion that I can ask the same rent prices they do here in the Seattle area, but am gathering an average from other rentals in the area.The problem is, that OH, MN, ID are not around the corner and driving over to check out the property to see if things are still alright is not an easy task.How have you dealt with buying property out of state?