partner with son?

[Vicki Gleitz]

Okay, husband and I are closing on HUD home end of month. This is a different deal. My son, who is disabled, purchased a home for $30,000 cash a little over a year ago. It is now worth about $60,000. LJ was thinking of buying another home, using his house to get a loan. My husband and I are also thinking of buying another rental, probably cash [ loans not that smart for us as we are both very ill] We were thinking, to avoid my son going through the stress of a regular loan, to purchase a home with him as a partner. He will be paying us a small amount a month for his share.Upon our deaths,it will automatically all go to him without a lot of hassle. Would this be a good idea or no?