They have more skin in the game then you do.Make sure you get clear title.

If it comes back and needs to be tweaked, then you're in the game. 

I would suggest finding a real estate attorney that is familiar with drafting custom purchase agreements. 

I'm just trying to help him figure out the best possible game plan, whether that be rolling the money into another business, investment, retirement account, etc.

So, I am a senior in college and have been in the real estate game for a couple of years.

We just went under contract on a 284 unit deal in Houston, TX.We used a local attorney for the PSA (purchase sale agreement) and who was familiar with local laws and customs like using the Texas equivalent of an ALTA title insurance, etc.Also keep in mind that for commercial projects, a large (6 figure) deposit will be required and in hot markets a portion of it will be non refundable.

If you want to play the negotiation game do as Franco suggests.

But I’m also getting married in August, so I can’t afford some colossal real estate purchase — even at only 3.5% DP.What/where should my game plan be to live somewhat comfortably, and leave in a couple years with a cash-flow property?

You're in good company, I have a lot of friends in the REI game in your area.

The kicker is, I really don't have the ability to put skin in the game.