It can also make it more difficult to finance the property and to resell the property unless you are reselling it vacant.If you run the numbers on this one, your rent as a single family house is probably going to be more in the $1.5K-$2K/month range, so the numbers don't work that well.Plus, this is probably your best comp, so you aren't really buying it at a discount if you are all-in for around $275K.https://www.redfin.com/PA/Philadelphia/3811-Sharp-...

But like to keep myself sharp by staying tuned to the market. 

The only other factor is time, whether sharp peak valley, or long drawn out. 

Bought side by side duplexes in Everett in late 2013.Saved just a little more with the addition of the duplexes cashflow and having a freshly proven model and sharp looking BP analysis tools, pitched and bought a fourplex with a partner in early 2014 (25% down and Have since bought the partner out).With 8 units, cashflow Snowball began to grow and saved, saved and saved.

@Harrison Sharp   Unless your family member is the kind of person that would have a prepayment penalties you should be fine. 

They have far less experience and won't be sharp negotiators.  

This will position yourself well so if the market does take a sharp decline you will be positioned to take advantage.  

That's a crap shoot, but having a sharp negotiator representing you could pay big dividends.When it comes to offers, they will use mostly of the same components, but terms and conditions will vary by deal because no two deals are exactly alike - especially when it comes to terms and contingencies. 

@Bart Hedgcock  I like Hammond area have done a few there... but its quite competitive with some pretty sharp locals working the area.as Cody is from California my thought in my suggestions is to work areas that have a plethora of vacant cheap homes and anyone who can fog a mirror can buy in those hoody markets.. 

This population growth is putting additional pressure on local housing markets with already critically low housing inventories, leading to sharp price increases that both homebuyers and new home developers cannot keep up with.”