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.

Some extra info: retired older single woman who's lived in the property since 2020, daughter lives in complex next door so its a good set up for her to be here long term but if she leaves Im looking to transition part of utility responsibilities on to the next tenant which would be good for me so Im open either way but even more open if HUD could roll with this change.

Her mother wacked herself in the head on a open window on the exterior of my home and injured herself and was interacting with me and several times told her daughter what to do next etc..

Then rented out our Basement 1 Bedroom to our son for $500 a month and A Daughter who rents for $350 a month bringing our total mortgage payment to $150 !

At least I had a mental framework that removed emotion (including FOMO) as a factor.

Conversely, my son and daughter are working and have qualifying incomes but no down payment.