I am relatively new to the whole real estate business, I have read the Bigger Pockets Ultimate Guide as well as multiple articles of theirs.

I'm licensed as an appraiser and spend the bulk of my time analyzing just about everything as it relates to real estate.

Of course you can also ask a friend or relative for the cash or take money out of an existing asset you have. 

For my owner occupied home buyers, I usually get a gift related to celebrating the excitement of their new home.

But, I'm not opposed to branching out, and there are other good markets relatively close to me (Indianapolis, Cincinnati, Cleveland, etc.)

For some reason I cannot relate to that..He just wants you to grow your $$ quicker. 

It appears the relative has been living in the house for several years, without any type of lease, never paying rent and has no intention of ever leaving. 

I think you will like it.it could be regional we have run into quite a few title issues down in Charleston working in the old areas of town.. and its the usual did not probate  shirt tail relatives etc.. 

So it sounds like the numbers are relatively similar to mine.

I'd rather keep it relatively liquid unless the returns are better than that.