you can build triplexes in columbus for cheaper. if it was more about you living in Grandview could work out but that's a tough exit one unit won't even get 0.5% rule.

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

-Legal Protection: A real estate attorney should draft the seller financing agreement to make sure your interests are protected.Final ThoughtsThis might be a pretty awesome first project if you can work out some sort of low-down, seller-financed deal with sweet terms.

Did it work out as expected? 

@Todd Anderson hey Todd, thanks for all of your advice, you've given me a lot to think about.I've been going back and forth, I need to do some research and work out the numbers.

You just need to work out the rent proceeds with your daughter.

So, I think you have a risk factor in upstate New York that you don't get in most other areas (it's not where most people would choose to live).I think upstate New York one of the few areas in the country you can cash flow in B areas with 80% downpayment, so that's nice--in terms of deals, I think the numbers still work out at market prices.Finally, the property taxes are very high in upstate New York. 

It should buy time, and avoid legal fees being added to the balance as the foreclosure attorneys wont be involved for a while as they process you for different workouts.

Did you sub all or most of the work out? 

There are a couple opportunities thats on MLS currently, and I am crunching through my math and it seems to work out well (positive cash flow, decent cap rate).Some key assumptions I hope still holds true today:  low vacancy rate in general. ~1000-1200/month for a room in a single family house / duplex.