It sounds like somewhat of a distressed sale in that the property is vacant (not necessarily abandoned if they're still paying taxes on it and maintaining their property) and owned by a couple who are no longer together or on speaking terms (have you even confirmed this?

@Tyler White if you’re getting laid off unless you have substantial cash reserves I’d focus on finding another job and not this deal.

We need to confirm whether we can turn the basement into a 3rd bedroom.

Here on the forums and the podcasts there’s lines of thought that say either “if you’re starting off build recurring cash flow with multi-family rentals” or “if you’re just starting off build your cash reserves with rehabbing and flipping”.

Do you know of a system that the visitors can request a place to stay, when they are approved it will schedule the visit in a calendar and send them a confirmation email?

Does the bank require someone buying a three family home to have a certain amount of reserves?

By regulation they have to keep $100k as reserves and they can lend out $900k.

We do need to confirm the best areas to look at, and avoid.

Now, I realize to hear what people say about themselves, their company, their success, and their vision but we HAVE to confirm with others that can vet them out.  

@Leslie Eason, talk to other experienced investors around you. if you do a conventional mortgage, you will need 25%-30% down and also want to have reserves for the repairs that always pop up at inconvenient times.