Mentally, I was perceiving this inspection quite in the opposite perspective.

@Arthur McCormack I recently had a mom/dad in their 60's renting a unit and their 30-year-old daughter rented next door.

. - I'm really new to this whole real estate and investing thing though and could be approaching this the wrong way with that mentality. 

I'm a beginner investor and I am considering buying a condo hotel studio on the beach to rent out short term, airbnb, daily, to pay for itself but also so I could stay in when visiting my daughter.

I personally purchased my most expensive multifamily investment yet, just a couple of month ago because I have the ability to do so and the deal makes sense for me (or at least it will in a few months once I renovate and increase rents).I'm a fan of purchasing property for whenever someone is financially and mentally prepared. 

The best time to buy real estate is anytime you are ready/capable to do so, mentally and financially. 

My wife of 7 years and I (and 2 year old daughter) are now looking to move away from renting and purchase our first home, though it has to make sense from an investment standpoint (we don't want to just buy a house for the sake of it).My original plan was to house-hack, though I have come to the realization that I probably will not be able to qualify for, nor can afford, the price of a duplex. 

However, some courts have held that the contract itself is a thing of value.There are other elements required, like the proper identification of the parties and item under contract, a meeting of the minds, mental competence of the parties, age of majority, legality of the contract, etc.The bottom line is that you need a written contract with a deposit to have an enforceable contract.

I have a daughter who attends UF and I'm looking to connect with an investor who self manages.

The biggest mistake I see investors who transition from the smaller to the larger assets is retaining the mentality is that they can do it all themselves.