That makes sense. 

He does nothing but get  a check each month.Buying an apartment building doesn't usually make sense with 2 million as not enough doors at that price to get passive.He could 1031 exchange into a DST or TIC but he gives up control of his hard earned money for retirement whereas if he exchanges into a property he owns 100% then he can decide what to do.You could also look at the owner finance with some down.

Hey there, this deal doesnt make much financial sense to me, im not an appreciation type of guy and i dont know the exact play here, but a cashflow of 183.16 for an initial investment of 27.5k money down means you would need 12.5 years to recoup your initial investment, the market there is heavily saturated and wont provide you much cash flow, if you are already factoring in property management, then you might want to look further away for better cash flow, im in the process of purchasing a 4plex that will cash flow me 1,500 mnthly after all expenses and accounting for vacancy on a 175k loan

For me it makes sense to do it this way because the judgements are significant. 15k+

I sensed he was trying to buy time so he could see what the other offers might be but I wasn't leaving. 

Does that make sense at all? 

When a joint tenant dies, the property automatically passes to the surviving tenant(s).That makes sense.

If the rents can't be pushed it probably wouldn't make sense. 

Still, with the way my father spoke, he was so excited when he heard his property was worth so much in 1980, he might have not followed his common sense, and sold to a Carleton Sheets student.Thinking back, if he had a choice between in Carleton Sheets student with seller financing, and an NNN lease, he would have been better with NNN.

A very specific goal which makes sense.