I agree, now or never.

@Ryan Blake I totally agree with the comment about investing in your local market. 

I found a good deal from my coworker and we have decided on a purchase price and he has agreed to help finance the deal through owner financing.

@Vinay I agree.

I have to agree with Dennis..

I believe if that is included, if they do not pay as agreed you can file the promissory note with the court and bypass the small claims process to sue them and it basically acts as a judgement you can enforce, I believe.If you can't collect from the parents, you could also sue all of them in small claims court if they are all named on the lease as tenants.

Definitely talk to an attorney and write an iron-clad operating agreement, you need evrything in writing while everyone is still friends and can agree.

@Chad BlessingI have a friend that received a discount in exchange for agreeing to exclusive / right of first refusal for future units in his portfolio.

Just to give you a little background about the property:2 family house in decent area in the Brinx fully occupied, $0 (rent roll), absentee/tired landlord, owner owns the property free and clear, owner hasn't collected rent in 15 years, property is current with taxes and water and sewage.Should I followup aggressively - after all she did verbally agree to a purchase price - or should I give her a little time then followup?

We negotiated for about a month on and off and agreed to do a 517k loan and a carry back of 36k and the seller will cover closing costs.