Totally agree with @James Wise on securing inspections, clear title and the default appraisals. 

I owe 80k total and am looking to keep taking the next step.About me: I am a full-time school teacher/coach in NW Indiana.

Originally posted by @Andrew Smith:Hi @Russell Brazil I work with one of the top national Agents in ReMax in Rockville who would completely disagree with that assertion.Im also one of the top national agents, top 1%, and there is a total of 2 agents at remax in rockville that sell more than me, and only because they have teams. 

https://www.har.com/content/newsroom/Highlights: Single-family home sales rose 5.3 percent year-over-year, with 5,260 units sold;Days on Market (DOM) for single-family homes decreased slightly from 67 days in February 2017 to 65 days this February;Total property sales increased 3.1 percent with 6,375 units sold;Total dollar volume climbed 4.5 percent to $1.7 billion;The single-family home median price rose 1.4 percent to $226,200, which represents a February high;The single-family home average price edged up 0.4 percent to a February high of $281,945;Single-family homes months of inventory shrank year-over-year from a 3.4-months supply to 3.2 months;Townhome/condominium sales fell 5.1 percent, with the average price up 2.0 percent to $210,887 and the median price up 4.6 percent to $170,000;Leases of single-family homes fell 11.5 percent with the average rent up 4.1 percent to $1,720;Volume of townhome/condominium leases dropped 11.5 percent with average rent up 2.2 percent to $1,515.

So total of all payments due to seller would be roughly $458,000. 

The property consists of 4 structures - 2 duplexes, an SFR and 2 car garage, and has 3/4 of acre.Here is the link to my analysis using the BP calc assuming a $455,000 purchase price and below is quick summary.https://www.biggerpockets.com/calculators/shared/260799/874435c9-b77f-4f96-a3de-90be11c4cbbaThe asking price is $475,000, Assumed purchase $455,000.I've assumed $30,000 in repairs as a place holder (TBD)Current Rents total - $4,700 + an additional $75 in income from laundry machines _ According to listing broker.Taxes are $5,868 (verified)Insurance $4,500When factoring in other expenses - landscape maintenance, water, elec, vacancy, repairs, cap ex and PM I end up with $610 in cash flow.

So total of all payments due to seller would be roughly $458,000.

Dad seems totally cavalier about it, and said he will contact me in couple of days to set date, but hasn't contacted yet.

You might be able to use this method for individual projects, but it could make your taxes a nightmare at the end of the year, your best bet might even be excel.

A partner and I are ready to invest a total of $20,000 through our LLC...I have been looking around for a small multi family buy and hold.