From there find prospective properties that you would like to buy and ask your Relator what the ARV would be brought up to date in the market. 5.

You can basically just 1031 until you die and the tax just goes away and doesn't pass on to your relatives or whoever inherits the properties?

One option is the relative buys the property and sells it to you on a contract for deed, another is the relative loans you the 20% down and is a co-signer on the mortgage so the bank lends you the other 80%, another option is you partner on the deal and make arrangements for the relative to get paid back over time, another is your relative buys it and you buy an option to purchase from him, another is that your relative buys it, he sales it to you and takes a second behind the banks mortgage when you get financing for the 80%, you can do a master lease agreement, you can form a an LLC or a corporation and have him buy it and guarantee the loan and you buy the company from him, you can do combinations of all of the aboce. 

In any case, I hardly believe you can squize money from real estate, unless your relative or friend will agree to see their house for the half of the price and you can find a real investor to buy it for 2/3 of the price.

Is your relative going to owner finance you? 

StilllWhat happens if your relative is not paying you rent, for whatever reason - lost his job, got flooded in a storm, had a medical emergency?  

I think my parents may know some of your relatives that go to Knox Presbyterian. 

yes contact several title companies.. go shake their hands get to know which ones you will want to work with in the future at the same time ask all your related questions!

You are actually not looking at your relative maintaining an ownership interest.  

All of it is too good to be true unless it's your relative with a kind heart that is leanding you the money.