Do they charge any fees in addition to their asking price for properties?

-if you don't BRRRR, and just buy a miscellaneous property on the MLS that you never see, and trust people you don't know with... you will lose money. 

Without a financial education - it's hard for him to discern which.What he should NOT do is to buy toys or spend it on fun because it'll quickly be gone.If he was financially savvy or versed in real estate - he could even buy a small apartment complex and self manage it if he had some property management skills.Advice should be catered to him specifically though, blanket advice isn't that helpful.

I'm looking at a mixed-use property (cafe on bottom floor, 2 apartments above) with an asking price of ~850k. 

Dear all, I have the opportunity to invest in a property (a retreat hotel not far from me) as a limited partner.

Investment Info:Small multi-family (2-4 units) commercial investment investment.

Wesley, I'm curious to hear about your experience as I'm looking to invest in a few properties.

Ive certainly purchased properties at serious discounts to the listing price....but it wasnt just random shotgunning of the offers.What I usually start with when trying to see if a lowball offer is appropriate is having a conversation with the listing agent first.

I'm not sure the steps to take to purchase the property from the executor who does want to sell the property. 

Why not do Property Management, I see you already are a licensed RE agent, getting a license through Hotels & Restaurants is not too difficult.