To make the deal attractive to your relative I would recommend determining a loan duration of not more than 10 years with the last payment being a lump sum. 

This can make it a more attractive market for real estate investors looking for good value.3. 

The portfolio seller will pitch the deal based on an attractive cap rate.

The natural reaction is to significantly cut your rate to attract business.

I’m doubtful they will get their price, or that local rents would make it attractive to rent it.The owners already moved out of state to live with family and are currently unemployed so I’m just going to be patient.I asked my realtor to offer them $260k cash and tell them I’ll be here to buy it with a 30 day or less closing time whenever they are ready.

What type of tenants will it attract, and how easy will it be to find tenants?

If you do this you will attract more customers and grow.

Now I'm in a position of looking to attract a partner to grow a real estate business and grow a portfolio of mainly Multi family properties and eventually into Commercial development down the line ( I'd also like to invest in some single family).

I have started to create a document for attracting local lenders for when I find a good deal.

Look for something with a view that is within 20 minutes to the attractions.