The rest is history. 

My grandmother wants to sell her home but live there rent free for the rest of her life.

How are values changing compared to the rest of the local market? 

The investment is a little bit more upfront since you'll have to furnish the room and bathroom fully, but you may be able to command a higher rent each month since you're covering all utilities, WIFI, and providing all the furnishings.Either way, renting out the room is a great idea and I'm sure it will be helpful so you can rest a little bit easier while you save to move to Lakeview, eventually :)

At times, the seller may back out, we may uncover bad things about the property during the due diligence period which will cause us to back out of the deal, or financing may fall through.What makes it even worse, we, as investors, may incur some soft costs (costs incurred prior to closing) which end up being sunk costs.However, as investors, we are relentless in our pursuit of cash-flow.

Cash out should be used as a 12-24 month loan so that you can buy another property and pull cash out at the next 12th or 24th month mark.At that point you take a portion to pay off or down the first loan and use the rest as a down payment on the next REI.

Then follow the rest of the advice given here.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

If you engage with tenant drama all the time you'll be doing that 24/7 for the rest of your life.

I have purchased an off-market property from an investor who now wants to sell the rest of his portfolio.