Right behind the stadium and very close to the casino. 

Real estate is a good investment, but it's also a complicated one compared to, say, treasuries or dividend yielding stocks.That said, "a journey of a thousand miles begins with a single step", so I do wish you luck on your first deal.

Your buddy has two options, Take a deep breathe and try to double up in the casino or take a step back and start educating himself on the world of RE.  

If you need to work two-three jobs, that what I do: one at a restaurant and one at a Casino to save up enough.I don't  understand why you don't use that real estate license to get a better job though that's what I've been saving my money for.

Still not much better now Stephen, the casino was supposed to help but hasnt done much besides help itself, commercial and residential throughout that area are still boarded up.

But you're more likely to turn $60K into $100K in the casinos than by buying a single house.

(Mortgage rates are most directly affected by the trading prices of mortgage-backed-securities (MBS), which tend to move in the same direction as US Treasuries.)

Then based on their answer you go out and find them that property.You do not throw them overpriced trash and say (what about this and what about that property and try to talk them into it).You are showing you do not understand what they are asking for and are pressuring them to buy something so that you make a quick buck off of them.Some investors might have had money in cd's,treasuries,stock market making 1 percent or taking a loss even so making 6 percent a year is great for them and they are happy.Some are near retirement and want a safe,low hassle investment and are willing to take less returns for it.Generally they are wanting less problems to enjoy the time they have left on this planet and just want a tax shelter and to marginally outpace inflation.Others need to maximize cash and want a huge return so they can keep growing their portfolio to generate wealth.If you truly have an excellent deal you can ask more of a wholesale fee simply because you will have many parties wanting it.If I have a commercial wholesale deal that is off market that is a great deal then I can command a greater fee.The deal is so good that the investor just wants the deal and not to lose out to the next person.If you are selling a marginal deal to a buyer they will try to squeeze your fee to get the numbers to work.Hope it helps.

I guess if I had $10mm to put in treasuries AND was more confident of the long-term future and stability of the dollar, treasuries might not be a bad option.  

A credit union is a banking institution, but, you might call the department of finance for thier definition, or read the statute definitions as they may be wanting coverage on the deposits by FDIC or the Dept of the Treasury.