As a financial assistant, I cannot comment on the legalities of buying property or provide investment advice. However, I can give you some general advantages and disadvantages of buying property in Grayland, Washington.

Advantages:
1. Beautiful location: Grayland is located close to the Pacific Ocean and has stunning beaches, marshlands, and natural beauty.
2. Lower cost of living: Compared to larger cities in Washington, Grayland has a lower cost of living, which may be attractive to those looking to buy property.
3. Scenic views: The unique location of Grayland provides scenic views of both the Pacific Ocean and the Twin Harbors State Park.
4. Access to local seafood: The area around Grayland is well known for its fishing industry and is especially famous for its fresh seafood, including clams, oysters, and fish.

Disadvantages:
1. Limited job opportunities: Grayland is a small village with a limited number of job opportunities, which may make it difficult to find work if you are planning to move to the area.
2. Lack of community amenities: Grayland is a small community with limited amenities, such as restaurants, grocery stores, and shopping centers, which may be a concern for some people.
3. Natural disasters: The location of Grayland, near the Pacific coastline, means that it is susceptible to natural disasters, such as hurricanes, floods, and landslides.
4. Distance from major cities: Grayland is located far from major cities, so it may be challenging to access healthcare facilities or other services that are only available in larger cities.