I actually live outside of Coachella Valley; I just run my business there.

Live and learn.  

One great deal per year could absolutely change my family’s lives! 

at this stage I would encourage him to put the cash in a brokerage account paying 5%  like T bills and keep searching and as well I would also advise to househack first before buying low end looks great on paper rentals find a nice duplex buy it live in one side rent the other rinse repeat.

But you don't live in a community property state. 

I live in Indy and as an out of state guy, a few local banks were willing to lend to them, so I don't see why they wouldn't help you as well.

@Jessica Morrisonall good, thanks for the additional info. some questions to think through - what are the numbers while you're living there, vs. if / when you move out? 

Side note he mentioned was to make sure the tenant's renter's policy has 'loss of use' coverage that would pay the renter to live somewhere else while the repair for, in this case, mold was being done.

I live upstairs in a primary residence and have just started renting out the basement. 

I live in the SF bay area, renting half a duplex in Sunnyvale ($2500/mo) and I'd like to find some way to live in this area long term buy obviously I've got to be clever about it.