@Kyle J. 100% agree with you. 

Abstract fees (abstract of title fees).Charges for installing utility services.Legal fees (including title search and preparationof the sales contract and deed).Recording fees.Surveys.Transfer taxes.Owner's title insurance.Any amounts the seller owes that you agree to pay, such as back taxes or interest,recording or mortgage fees,charges for improvements or repairs,and sales commissions.Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance.3) if there were other costs incurred to acquire the house such as if you spend money for tax advice, tickets to fly to look at the house( or milage)  and such also gets added to the basisGood luck

I agree with @Jason DiClemente. 

Agree with @Joe Villeneuve#2 is a total loser.

(Sold a business and have high income this year)  We agreed on: 5% P&I, 10Y Balloon, and 25y Amort.My Questions is: What if I suggest to him that we do SAME Amount of PAYMENTS BUT principle reduction payments and Not have interest component. this way i pay the property off faster.

A guy owed me wife some money and they only way he could pay it off was by agreeing to sell his SFR at a cut rate.

This is your brother-in-law's first investment so definitely agree with keeping it simple.

I agree with @Ned Carey, Baltimore City will literally let you pay anyone's taxes or water bills as long as they get money.

Also, the seller may agree to finance the deal.

@Dennis M. agreed 200%