Need Help?

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I have the ability to buy a home from a friend for 720,000 in an upscale community in San Francisco Bay Area. There are two active listings exact same models at 789,000. So essentially home is 70,000 under market or maybe not. Comps are from 780-802. I plan on renting it out for a year than moving in it. Does this make sense with current market conditions. New to the whole real estate game. Thank you