This should help give you at least a basic understanding of Real Estate Investing, which you can parlay into real world conversations.

Educationally, I worked hard and paid my way through an in-state college, landed a few key internships, parlayed those to a nice nyc job, started a company and failed and lost lots of money but learned tons, parlayed that into an ivy league higher education and parlayed that to another nice nyc job - luck + hard work.

Then, as a couple others mentioned, I would pull some of the equity after the seasoning period and parlay those funds into your next 2-3 deals.  

Low wager so low risk.

It happens, and a lot of originators don't want the risk, or the underwriting headaches, much easier to just do O/O loans with wager earners.

I would wager, none.

Chris It would be very interesting to see comparisons of actual cash flow or net rents received over a 3 to 5 year period from 8 caps from tK or 12 cap from tKI will wager you a ride in my new jet... that the 8% wins out.

So would there be a way to utilize this amazing credit score of your grandparent with your already good business and model and experience, to parlay this into obtaining better loans or credit going forward to purchase more assets thereby increasing the success of your family and doing something great to remember your family member going forward. 

I want to wager flipping locally but don't know how fast the rehab will take and how much it will sit on the market.

It's obviously not 100% luck, but some of my wagers could of zeroed me out with nothing for me to fall back on.