WA state has specific statutes on how to deal with a deceased tenant situation,  which are mostly reasonable though reading through this of course there is a lot of paper trail and accounting involved, and potentially storage of a lot of materials for an extended time period.   

If she can't afford the mortgage she maybe be extending an already poor situation by waiting for somebody to come along to offer a few thousand more, especially considering it was already on the market. 

-I need access to the money after a yearHere are my ideas so far (and where I would like your input): -put the full $120k down on our residential home, have an extremely small monthly payment, save more money and refi it back out in a year (my father is a mortgage broker and could handle the refi for me, but it would still cost me about $3k in other fees)-put the full $120k down on the home and then do a HELOC when I'm ready to start investing -put a small down payment on the home and put the rest of the money into some type of safe investment like a bond-put a small down payment and just keep the rest in a high yield savings accountOther details: -We're planning to buy a home and rehab it -- but not to flip -- we will live in it for an extended period of time-We'd like to spend no more than $150k on the property (including rehab) *would like your feedback on this as well*-My investing strategy will be a combination of flipping and value-add buy and holds. 

-I need access to the money after a yearHere are my ideas so far (and where I would like your input): -put the full $120k down on our residential home, have an extremely small monthly payment, save more money and refi it back out in a year (my father is a mortgage broker and could handle the refi for me, but it would still cost me about $3k in other fees)-put the full $120k down on the home and then do a HELOC when I'm ready to start investing -put a small down payment on the home and put the rest of the money into some type of safe investment like a bond-put a small down payment and just keep the rest in a high yield savings accountOther details: -We're planning to buy a home and rehab it -- but not to flip -- we will live in it for an extended period of time-We'd like to spend no more than $150k on the property (including rehab) *would like your feedback on this as well*-My investing strategy will be a combination of flipping and value-add buy and holds.

-I need access to the money after a yearHere are my ideas so far (and where I would like your input):-put the full $120k down on our residential home, have an extremely small monthly payment, save more money and refi it back out in a year (my father is a mortgage broker and could handle the refi for me, but it would still cost me about $3k in other fees)-put the full $120k down on the home and then do a HELOC when I'm ready to start investing-put a small down payment on the home and put the rest of the money into some type of safe investment like a bond-put a small down payment and just keep the rest in a high yield savings accountOther details:-We're planning to buy a home and rehab it -- but not to flip -- we will live in it for an extended period of time-We'd like to spend no more than $150k on the property (including rehab) *would like your feedback on this as well*-My investing strategy will be a combination of flipping and value-add buy and holds.

-I need access to the money after a yearHere are my ideas so far (and where I would like your input):-put the full $120k down on our residential home, have an extremely small monthly payment, save more money and refi it back out in a year (my father is a mortgage broker and could handle the refi for me, but it would still cost me about $3k in other fees)-put the full $120k down on the home and then do a HELOC when I'm ready to start investing-put a small down payment on the home and put the rest of the money into some type of safe investment like a bond-put a small down payment and just keep the rest in a high yield savings accountOther details:-We're planning to buy a home and rehab it -- but not to flip -- we will live in it for an extended period of time-We'd like to spend no more than $150k on the property (including rehab) *would like your feedback on this as well*-My investing strategy will be a combination of flipping and value-add buy and holds.

And certainly not something to cancel a contract over bc it is something that is just going to pop up again.As for NJ attorneys, it would be great if they followed the contract (it would make my life a whole lot easier :) ) but the first thing that they do is disapprove the way the contract is written and extend attorney review indefinitely until all parties agree on changes made by both attorneys and then dates start ticking down from the end of review.Side note - I actually just started podcast #222 and should be listening to it over today and tomorrow!

Eventually you will have a cash flowing RE that has equity paydown and has benefitted from long term market appreciation.This has always worked in San Diego except for those that over extend and need to sell when the market is down. 

I have worked at multiple investment banks and the odds that a picker will outperform over an extended period are very slim.

@Donovan Batiste @Shirlin YiuMy network extends as far north as Newport Beach!