They heard it's smart to invest in real estate, they have money to burn, so they plop it down.

How you proceed will depend on a few factors:- financing will depend on your exit strategy - you'll be best off if you can decided the exit plan (LTR, MTR, or STR) before buying- Since you're not employed and living on savings, what is your burn rate and your cash runway?

You're also wasting your time performing tasks which are unneeded and unwanted, such as attending the inspection and preparing an appraisal packet to be delivered at the appraisal inspection.- Any info to be provided to the Appraiser MUST be provided when the Appraiser first makes contact.

Super important that you know what it will be worth once repairs are made, and that you know what the repairs will actually cost ( many people underestimate and get burned ).

It's a quick way to burn out. 

I’ve been burned too many times.

I've seen beautiful houses on google street view, only to get there to find fresh tilled dirt and the neighbor tells me the house burned to the ground 2-3 months ago.   

When I was selling residential solar I assessed 3-6 homes a day and often saw FPE panels with charring around where a breaker had been overheating for awhile and started arcing because it failed to trip, causing the breaker to melt and the wood framing the panel was mounted on to start burning.

It's tiny, but at least the burned down house on it has been scraped and it's an empty lot. 

@Zeke Nickie So far the only two times I’ve crashed and burned in real estate has been when I’ve been involved with a partner so just be super careful if this is the path you choose to pursue.