My idea is to take out an FHA loan on the property and "live" in one unit, as in have my mail and whatnot set for that address, but still stay at my parents.

Feel free to assume that zoning and whatnot will be ok, I would check that obviously before purchasing.

We have enough days saved up and what not to be able to leave as soon as July 28th.

Its growing quickly, and is being reclassed as a larger metro area by the fed gov't, so jobs and whatnot are on the upswing.

I had looked a bit for local real estate investing groups and whatnot and didn't find any, so was a bit surprised when someone local jumped in right away.

Also, where I said I gave them the option to fix the things and whatnot...

Generally, if you're buying turnkey, you're getting a deal relatively close to market (unless it's a shyster, you need to vet turnkey companies carefully) but in a cash flow market with all of the management and maintenance and what not in place.

Once I get an understanding of what to do and what not to do , I will probably take that and invest in different more nicer areas.

But, lesson learned and you'll know what not to do going forward.

Tony, In reading your bio and what not I see you deal with similar areas of investment as myself.