Now, I cant say I completely agree with that philosophy, but they are definitely doing well and they definitely have a point in that waiting to invest is probably worse than investing at the current time.

I agree it's important for branding when networking and so forth. 

Second, you can also ask for whatever you want, the seller may or may not agree to your requests.

@Kyle J. 100% agree with you. 

Abstract fees (abstract of title fees).Charges for installing utility services.Legal fees (including title search and preparationof the sales contract and deed).Recording fees.Surveys.Transfer taxes.Owner's title insurance.Any amounts the seller owes that you agree to pay, such as back taxes or interest,recording or mortgage fees,charges for improvements or repairs,and sales commissions.Settlement costs do not include amounts placed in escrow for the future payment of items such as taxes and insurance.3) if there were other costs incurred to acquire the house such as if you spend money for tax advice, tickets to fly to look at the house( or milage)  and such also gets added to the basisGood luck

I agree with @Jason DiClemente. 

Agree with @Joe Villeneuve#2 is a total loser.

(Sold a business and have high income this year)  We agreed on: 5% P&I, 10Y Balloon, and 25y Amort.My Questions is: What if I suggest to him that we do SAME Amount of PAYMENTS BUT principle reduction payments and Not have interest component. this way i pay the property off faster.

A guy owed me wife some money and they only way he could pay it off was by agreeing to sell his SFR at a cut rate.

This is your brother-in-law's first investment so definitely agree with keeping it simple.