Just make sure that you have house rules and expectations set up ahead of time.

Buy a house no older than you, I know this one is hard...you may be able to push to 1980 and newer. 

I would push you to think about what is possible, and how you can utilize the time that you are given to really scale to your fullest potential.

With an FHA loan you can do this with only 3.5% down. i think that if you are toying with the idea of buying a home, then it'd be a good idea to go ahead and work with a Lender, just to see what price home you can actually qualify for.

I agree with that because most-often it was my real estate agent (broker) who always happened to know a lender that would give me the best rates and push the loans through when other lenders turned me down.

Shorten my learning curve, yes we all could get free knowledge online may or may not help so you can spend endless amount of hours & not be ahead but just have knowledge. 3.

If I was to jump ahead with a strategy for you and your family, it would be to leverage this loan and buy a 3-4 unit property that you can "house hack." 

I'd gently push the seller to find out why they're so desperate to sell. 

@Karen Gillispie I personally wouldn’t get into this deal, that’s pushing it really close.

-The Days on Market (DOM) figure for single-family homes fell from 51 to 29;-Total property sales increased 1.6 percent with 11,285 units sold;-Total dollar volume rose 16.9 percent to $4.0 billion;-The single-family average price increased 13.4 percent to $372,408; -The single-family median price rose 13.3 percent to $300,000; -Single-family homes months of inventory registered a 1.8-months supply, down from 2.4 months year-over-year and below the national inventory of 2.6 months;-On a year-to-date basis, single-family homes sales are running 15.3 percent ahead of 2020’s record pace and 21.6 percent ahead of 2019.