You just took one of the most difficult steps in real estate investment; the first step.

I have attempted to do so, but it can be difficult once I tell someone my age! 

Just make sure you have the cash flow to back it up if things get difficult, otherwise it could get interesting.

Background Story; My fiance's best friend, recently going through a bad break up, has always rented (lives with her sister, her cats, and her sister's dog), but she thinks now it may be a good idea to finally buy as rents are high and even more difficult for ones allowing pets. 

It has some extra paperwork, can be little annoying at the closing.I got 5 sfhs from homepath, it wasn't too difficult.

If i bought it outright, i think he would take like $3-5000 down and maybe the balance in 2 years.....Any guidance is greatly appreciated on what you would do with this deal, being 'creative' of course.I wouldn't feel right signing an option with him and not being able to cash him out after two years. 

Most of my lenders have higher costs from 50-60K, over 60K and zero issues. sub 50K loans is going to be very difficult to produce

Unless there is major development nearby, I would see it as fairly difficult to resell for a significantly higher price unless you come across an inexperienced investor. 

Or you could simply just include a flat fee in the rent and advertise the units having certain utilities paid for.Offering below list price is difficult (but not impossible) in western WA, so you need to identify other value add opportunities that will decrease expenses or increase cash flow.

Keep in mind if one entity owns more than 10% of units the condo is no longer Fannie approved and buyers and sellers will have a more difficult time trading there which could hurt sales prices somewhat.