Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

Although she is family I would still have an inspection contingency on the property to ensure no major issues have been overlooked.

Make sure you have a contingency in your contract to cancel within your due dilligence period for any reason and you get your earnest money back.  

Because even if the numbers you came up with maybe aren't good enough for investors, your contingencies would get you off the hook. 

Make sure the numbers work under every contingency you can think of.But I would definitely make sure the numbers work for them first, because if not, it's a non-starter.

If you didn't get a good deal and are still in the inspection contingency I'd bail.

He said that he factors in a potential decline of 25% in a property's value into his contingency plan.

Please see the below list I've compiled of things to consider and let me know any advice you'd like to offer:- Title company- Inspection/Appraisal- C.L.U.E. report- Contract contingencies on sale/seller covered closing feesLastly, will a good title company cover my bases as far as handling the transaction and contracting, or should I hire an attorney?

Assuming this drops a little due to unforeseen circumstances, and also assuming we do not walk away dues to home inspection or building code contingencies, we should still have a solid RoI.Thanks to everyone who chimed in.

You should probably place a contingency that you get a home inspection.