About how old is he, any health issues, how's his financial position roughly?

In your position, I would not tell the seller what his tax treatment would be.

Originally posted by @Bryan Hancock: To me it seems like best is in the eye of the promoter for their intended purpose for the raise.I can tell you've never had to prove your position to the SEC. :-)

Held for cash flow, taxes and appreciation to a more profitable position.

Everything I am reading about the Houston area appears to be positive.

Hopefully I'll be in the position to advise and help future newbies out myself soon!

Congrats on the opportunity and being in position to make some money and help some folks right away!

If this is the only lien on the property and you're in the first position, that could be a great deal!

Background: The home has positive cash flow even with the property manager.

If you are eating beans everyday and have nothing to spare, get a position or work that pays better first, RE is not an immediate income producing activity that can be entered into without a dime in your pocket.