I have an opportunity to purchase a lot in Jamaica Beach at (what I think) is a discounted price from a family member. I

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Given what you have posted and that you may be relying on the BP calculator to make your investment decision, I think you need a lot more education and connection to investors in your local market.I’m a full-time wholesaler in the Baltimore-DC area and president of MAREIA, a local investor association.

Family is great for being family but not necessarily for growing your dream, It would be so much less complicated to have a pro than a family member. I

A family member is trying to sell the house and had it inspected.

Hello BP family,I am a new BP pro member, I have been listening to the BP podcast for about a year on soundcloud, I've read a few books regarding real estate.

@Delante' Randolph,While you can (sometimes, under the best circumstances) wholesale a property that is listed, you really shouldn't be relying on that as a way to find deals. 

@Daniel VineisI have created an LLC where each member is assigned shares whereby in general there all In first position.  

Goal would be to pay it off in less then 2 years over time if I wasn't doing a refinance-cash out (Which I have not done before so not sure if this is a full option).Family member is unlikely to be approved for two home loans at once so them doing an owners finance still makes it look like they have a loan with Bank 1, when they try to make another loan with Bank 2 it's unlikely their income will allow them to be approved, but this thought has crossed my mind.

I’d be relying somewhat heavily on potential rental income.