***We don't want to be home owners anymore ***

[Walter Duffy]

Hello everyone. I wanted to lean on some of you that have experience. My in laws live in Greenwood SC said they do not want to own any more the would rather rent from us so we can benefit from the tax advantages. They are leaving their home with potentially 50k in equity to my family and I. Because they do not own the home out right they cannot gift it to me. I have come up with 3 options:

1- buy the property and have the negative cash flow of $100-200 per month then wait until the in-laws move out so we can almost double our rent and have a positive cash flow of $90+ every month?

2- get the mortgage statement sent to my primary home and pay it. Then collect rent from in laws?

Or

3. Or don't buy?

Thank you for your time and advice.

3.