it's a FREE MARKET.  

It's fantastic and there's a great mix of investors at different stages there.2) Join the Metro Detroit Real Estate Investors Facebook group.

But if you are thinking of offering as a buyer then we typically go with 10% down 10-Yr term at 5% interest.  

@Chris Schwartz, good to hear your family member is loving the retirement home, that can be a challenging new chapter for many families. 

It is why I asked if you really intended to offer seller financing with a 5% rate.

In order to determine if your property is eligible and ensure your assets are assigned to their respective recovery periods, a cost segregation study is needed.A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

Ready to dive into real estate with a lease option deal?

There is a 4bd 2.5 bath ~1600sf home for sale.

So a few things you can do. 

and again, likely to be in a challenging neighborhood.i would wait.sorry, i know that's not what you want to hear, but it sounds like you've done a ton of great work to build yourself into a stronger financial position.