Any chance you could open the upper rooms up & add a small en-suite full bath ??

And ideally, on the East Coast.So my questions to all you learned people would be 1.

None of them really feel that ideal, but you have to start somewhere right?

Those qualities will suit you well in REI!

would like to catch the appreciation of the property and very ideally have it be a good enough deal that it cashflows

I am guessing the suit will have little to do with you upon FCL.

I will use those funds towards a down payment for my first buy and hold property (ideally a duplex so that I can live in one side and rent the other out).

You can be served with a suit 6 months later.

Ideally, I would love to find a discounted/distressed property in a decent neighborhood, however it seems that is easier said then done.

Just set the values as customary, the best argument is the % of sale price in it's as is condition, then adding improvements made to the building side as described.Now, had we considered Pat's suggestion prior to the purchase, may be something could have been done that better suited the situation, but not with related members are probably not with a few residential units as that isn't common.