I also am aware that a 30 year mortgage would not likely be practical given his age, so I was thinking of suggesting adding points that I would pay him in cash upfront as a concession for allowing me to have early payoff. 

Is it advertised to relocating people?

My father in-law had a medical practice which he retired from and currently owns the property.

Just bad practice.  

It is a legal question I am asking, not what is best practice, most practical, or easiest.

Due to that I have very little savings (practically nothing), so I am looking into the various ways of investing with little or no money.   

It's fallacious to think that there's one number for a community or neighborhoodAnd for more fun, we used an arbitrary GRM of 11 to derive the FMV which we closed on.Preach whatever you please, but the practical side of the transaction demonstrates reality.The whole intend of the CapRate metric is to compare one investment to another, not to price fix.

It really isn't practical based on either time requirements or finances unless you purchase an apartment building (possibly with partners).

This is not a good business practice and would have avoided your present situation.

This link provides a list of the disclosures but there may be updates that you will need to verify with the DRE. http://www.dre.ca.gov/files/pdf/re6.pdfNaseer Khan is licensed to practice law in California.