We appreciate any advise!

When you have several into a pool of money there are several laws you would need to follow and should only be done with legal advise, After all you don't want to get into trouble for not managing funds properly.

The first thing I would advise is think like an investor, be conservtive, know your numbers inside and out, do your research,  and think about if you were risking your money as you are asking someone else to do, what would make the risk worth it.

Thank you everyone for the advise. :) 

Advise?

He knows the owner personally and advised him to just get rid of the place b/c it needs so much work.. but the owner just inherited the home from his dad, who passed and was thinking about fixing it and living in it.I talked to the guy for about 5 minutes and explained that we could do a quick sale and I can pay cash. 

coming in here kinda late, but I think you got a bunch of good advise.

Good advise.

First off start with Rob K. advise about presentation.

Account Closed has sound advise.