I was confident enough to offer $10k non refundable upfront as a show of good faith but my partner said that I can go to the casino if I want to gamble :-) Since it is my first property of this size, I listened :-) Also I'm not sure if $10k upfront would have been meaningful.Let's see what happens...Jean

I am not gambling on appreciation, but cash flow talks the talk.

This is a team sport and you need connections to build you business.

Do they usually allow inspections of the properties prior to a written offer, or is this one of those situations where I'd be expected to do my due diligence at "arms length" (drive-by, internet research etc), and take a gamble on the condition of the property?

Thats simply gambling on a hunch.

Well, are you talking sports car, family sedan, SUV, truck?

A little background information of myself:1.)I just recently graduated from high school as an honor student who is working as an assistant manager/receptionist at a real estate firm.  2.)I have grown up participating in 6 sports(possibly irrelevant to this topic but hopefully providing you guys an impression/idea of me as well). 3.)As stated in the post subject, I am an 18 year old. 4.)I come from a family of self-employed business owners, doctors, engineers, and stock investor(s).5.)I'm quite the tech-savvy person 6.)I will be taking 13 credits of college courses at a community college in the fall semester I under this career demands a great deal of one's time but I am willing to sacrifice that time for this career by limiting my social outings.

you say Your partner/friend knows the neighborhood and the risks and is willing to gamble.  

Business is a team sport.

You would be hard pressed to find properties in the 60 sq ft range which  are in your own backyard There is nothing like mining your own neighborhood and investing for both cash flow and appreciation Study you local market and I be you will find both types of properties that would be much less of a gamble then venturing into the unknown