It's also unlikely that they have done any updating and kept up on all the maintenance so a lower offer is more reasonable and you have a renovation opportunity.Come up with a list of services you can offer to make it easy for them to sell (as-is) and to move (clean-up service).

Newbies should consider the lower prices of vacation areas to buy their first multi-family.

It will be a challenge but it will help in the long wrong say 5 years from now if you stay the course Financially.In my case i worked few jobs and i knew i had to pay my debts off, im still paying them now, at one point when i was ready to pay but couldn't pay because my check wasn't a lot and company's wanted me to pay the whole bill off i couldn't do that, some people will run into that problem, if you got a cable bill that some cable provider wants you to pay off the whole bill you can do that all you have to do is save up into the next week depending on how you get paid at your job weekly bi-weekly.Again it's only one way to get your credit score up if its lower then in the 400s or lower, working and paying off the debts.

Cash flows well at this 4% rate and the refi rate of 5.5% amortizated over 25years.My bank has said they do 75% LTV on the purchase price or appraised value, whichever is lower.

Anything lower is probably more of a retail buy for a market-listed property...but it just dependsAgain, returns are all relative to your personality and preferences. 

I can get a lower mortgage rate if I plan to use it at least two weeks a year, which I will, and rent it out on a short-term basis the rest of the time.

I want to try and keep my costs under that amount.  70% gives me a little buffer encase my Rehab goes over budget or the appraisal comes in lower than expected.Then it’s just a matter of subtracting all my costs to figure out what my max offer can be.  

And, try setting the price a little lower at first, then once you get a few 5 star reviews, you can raise the price.  

If, however, you are buying it with cash and without an inspection, you could tell the seller that you can close in a few days, which might let you negotiate for a lower purchase price.In the scenario where there is a loan with interest, and the interest is all your father-in-law receives (he isn't getting any of the profit after the sale), then he is indeed a true lender and this is a true loan/mortgage.

If you can be patient then you might be able to even negotiate a bit lower price.If he finds the perfect replacement property and you're not ready to close then a reverse exchange like @Jessica Zolotorofe would be another option to save the deal.