I've always heard that For Sale by Owner is one of the ways to find off-market investments. I want to take this opportunity and I need your advice on how should I go about this.

My boyfriend's dad is selling his home in Pocomoke City, MD. They will use the money for a down payment for a new house they want to purchase. The house is fully paid but definitely can use some cosmetic rehab.

How does FSBO works? Also the financing part of it?

I can see it as BRRR or fix and flip but I would have to run the numbers.

Where do I start? What questions do I need to ask? What information do I need to know?

Any  suggestions/recommendations would be so helpful! Thanks so much in advance!!