At a macro level the owner is trading a higher price ($130K over appraisal) for favorable terms to you, the buyer (5% down and not having to quality through a bank). 

If your dad has decades of success in real estate to that degree then why are you going to real estate investment meetings and listening to investors with just a sliver and net worth of his experience level??

., (9) level of investment experience you have, (10) familiarity of the market, etc.As an investor, one of my primary responsibilities is risk management... my ability to fully understand all of the risks that I am taking and put processes/structures in place to minimize or control these risks.And if you are a successful risk manager, i have found that in REI you are able to mitigate the downside and generate returns that ARE NOT commensurate with the risks you are taking and do so by providing a triple win to your investors, your tenants, and yourself!

Thanks, Jeff Dulla, If I was going to need a co-signer to qualify do they have to be related to me?

Hi,Me and my wife live in Denver, CO.

Some agents might charge a per house/hour for concierge level work.

Co-workers?

As I am not sitting on much for a saving s account...The kicker here is my mom is willing to co-sign and put up a down payment to help me get started.

And DON'T speak to the entry level person. 

This means YOU occupy it, not your relatives, co-workers, renters, or bums off the street.