When you find a pre-qualified buyer, you "exercise your option" to buy.

Its a very small factor that plays into the total decision, more importantly, if you have a mature and established credit history - you should be even less concerned about it.Whats the point of having a strong score if you're not going to exercise it.... ? 

My parents were in the medical field but had a passion for real estate.  

What are the best ways for me to do this exercise without engaging a realtor?  

Medical issues, tax issues, divorce, dead beat family members living in a non-owner occupied house and not paying rent....the list goes on and on.

I recommend the lake ave area of Worcester/UMASS medical neighborhood.  

@Brian Eastman I was wondering if you could comment on an exercise I recently did in excel.  

The thought being that you didn't want seniors dumping assets at bargain rates to friends and family to become eligible for Medicaid to cover their long term care or other big medical bills. 

and I guess if I looked at that deal the cost of liquidating it at the time would have eaten up any equity.. so when its within 10 to 15% of market yes it has equity but I don't really perceive it as cash to me.I go through this exercise almost daily in my every day work a world.. when I get funding requests ......

Assuming that you already have 3-6 months of emergency savings already (in case of job loss, medical stuff, whatever...stuff happens), you might want to save some more $ to act as reserves for your future investment.