@Matthew Kreitzer hit the nail on the head.  

As for the down payment; I'm assuming we would negotiate something substantial enough for him to make his move to Dallas (like 10%-20%).Final question: if he's carrying the note (I.e. 

The residual amount that you project for cash collection is borderline, or just above the profit margin and might even be headed in a negative direction.I sense that you are caught up with the family aspect of it and believe that you must satisfy their request. 

So while someone might have scooped up something in the neighborhood on the cheap in 2009 - 11 we are not in that kind of market right now and prices have gone up substantially.

Heads up, nothing at that website.

I am headed to Charleston to look around.

@Crystal Smith true... a newbie or even intermediate investor in my opinion would not know most of these if they fell on their head.

He says you buy in at $60-$70k, substantially more than $25k.

This sent off a lightbulb in my head.  

However, I can not seem to wrap my head around how this would work.