He may be able to do what is known as an installment sale on a land contract - this is where the transfer of the deed is made upon the last payment so you're only paying the tax as the seller collects the money (as opposed to all at once).This strategy varies from state to to state so it's best to check with a local Real Estate attorney.

Do not rely on the Zestimate number.I know it sounds great investing out of state - virtually.

You track actual miles driven for your business, so the payout varies, but could be substantial.

If I'm not borrowing from them, or relying on them for anything else, what would be fair compensation? 

You want to own property in areas where you can make money given that some landlord expenses don't vary based on rent rates. 

@Helen Zhang..Varies by state. ..

YMMV (your market may vary).And, again, like I tell all zillions of the folks I preapprove for 3.5% down on a 2-4 unit, please feel free to prove me wrong!

Hi @Benny Moya,PMI varies greatly by down payment size and FICO.Great credit, 15% down?

I'm just looking for general feedback if this looks like a solid deal or not...although I know everyone's definition of a good deal varies 

After that we would continue with RE investing until I do not have to rely on my salary as well.