Were going to be exploring a triplex here, hopefully this weekend actually.

I'm beginning to explore getting into the house flipping business. 

Have you explored possibility of holding the property in a discretionary trust?

Was considering buying here but I came to the conclusion that real estate is expensive as hell in San Diego, so I am currently exploring out of area which included looking back at my hometown, plus I am also trying to help my family out with buying a new house for them to reside in.

Of course trust the people you work with, but this is an all around good thing to explore.

It is important NOT to commit to anything except to continue to explore an arrangement that suits you both. 

That's something I would need to explore as well.

I have some clear action items on my end to explore.

There is an option to do short sale a property (sell for less than money owed), but usually lenders only explore that option if the property is in default. 

@Katie Panzica - You definitely want to explore unconventional financing (Hardmoney, Private Lending, etc.).