Turbo tax is a great program, but it seems like you are at the stage where most investors need a bit more.   

This is a separate issue from the step up basis but would seem to have significant financial implications for both parents and children. 

I brought up the idea of owner financing and he seemed open to the idea.

I am interested in purchasing a bank-owned property in Northern Michigan, however there seems to be one major problem.

The ones that seem to be meeting with success are targeting Raleigh and Durham properties with a good proximity to something in high demand (airport, university, downtown, hospital ...). 

Pinedas program seems a bit steep.

However, this seems overly conservative and makes a huge difference in the over all ROI numbers.

I know this is probably a long shot, and not as advantageous for the seller as $325K cash up front, but I should have mentioned the seller had it listed for $325K for 4 months, no offers, dropped it to $315K, got a couple of calls, but no offers, then has had it off the market for 3 months and wants to relist it in March if I don't buy it.Since this seems VERY overv-priced based on recent sales, I'm trying to figure out an option that might work for the seller, but we might just be too far off.Any suggestions on how that could be done?

But southwest closer to I35 and 410 seems to have some good properties.

This seems like a scam post...