Also, you are offering way too much, not sold for a year, ok it has issues. 

He then says that's not the issue, the issue is that you didn't give notice.

The tenant kept bothering me about a lot of repairing issue.

He and his wife hold it in a revocable trust with plans for the asset to be distributed to his adult children.  

That said I'm not sure the TCO will help here because it is a meter set with PGE, not something that is a City permit issue...maybe they can allow it with a temp pole/meter but I wouldn't count on it. 

We had an inspection done and and then negotiated the price down to $197,000 from $250,000 based on the fact we would allow my husband's step dad rent a room during ski season, the faulty roof, and other issues with the property.

The main issue with multifamily STR deals is financing.

As a parent to do this for a child, it is only acceptable if the child has a documented disability which prevents them from being able to work/ earn income.if parent/borrower is in one state and the child is in another state, i don't think this is an issue.

The issue is he needs one with 10% down vs. the 20% that we're finding, if that exists.

@Lucas VreekenTypically a reit will pay dividends and has to distribute most of its earnings each year and you will pay taxes on that money earned each year.There are r a lot of passive investing options available