Typically, they track down heirs to properties that are owned outright but split between many family members that may or may not communicate with each other or even know the FMV for their portion. 

Based on the OPs description, the Grantee in this case may just do that.I'm not an attorney and this isn't legal advice, just my opinion. 

This will be essential for managing remotely.Property Management: If you are unable to handle the property in person, think about working with a reputable property management firm.Decision: The decision you make is based on your degree of comfort, your ability to take on risk, and your readiness to put in the time necessary to develop a network.

I do have a call into them but haven't been able to touch base yet. 

I am a CT based real estate investor and I own a PM company.  

We are primarily looking for properties around the Buffalo and Rochester areas, and eventually venture out of state and tap into different markets. 

Let's touch base next week.Thanks,

When buying a property with 20% down, your appreciation is based on 100% value.

I approached him with my interest in the topic and he shared some info and also asked if I may want to be a gap lender (or other avenue of lending) for some of his deals.I thought it all sounded good and am now preparing for my first deal with him.I am primarily concerned with my risk in this deal.

Chris, The importance of each metric can shift based on your specific goals (buying, selling, investing), market phase, and economic conditions.