Three adult children have taken control of it.

If $10k is sufficient enough capital to cover a down payment and other costs.

The vendee buyer / end buyer has not made a payment in over three months.    

All three of us live in California and think it best to invest somewhere close to where we live because it's our first property and we'd like to be able to drive there in case of emergency.  

I believe that an artificial appreciation took place initially, but fortunately this was a good thing as consumers took the time to rebuild their credit, they could come back and buy the same homes (only now more renovated) in three to five years.

As you do, take notes, and I suggest that before you do another investment, have a plan for dealing with the taxation.In every deal I have ever done, taxation was one of the three or four decision factors for buying, selling, holding, etc.  

Just curious to see has anything changed over the last three months?

Which of the three do you like best?

I have been renting in Jersey City for approx. three years, and have always had an interest in REI.

Similarly, there is residential agent here in the City with whom we will not do business because of his actions during a deal three years ago.