As your transition into bigger and better properties, including multi-family and commercial, you will likely find that any worthwhile opportunity will become easy to match up with your existing buyer client base.

Section 8 tenants are sometimes not easy to deal with.

@Ned Carey , I am learning on every project so far that the easy way and cheap way is not always the best for sure!

Private lenders are easy to find especially in this low interest rate environment.

Hi Gary, if the pump failed on it's own I would pay the increased energy bill.I don't know where Your from but in Wisconsin the electric/gas bills have a "Degree Days" number on the back of the bill, this number would make it easy to figure the actual increase in fuel used for the month in question this year, and the same month last year, when the pump was working.

Its not going to be easy but could be done.Your second option is the state fair plan.

Very easy.

We've used conventional financing so far on our deals, but you're correct - if the place is in really bad shape, that route may not won't work, although we've been OK so far.

The property looks in pretty good shape and using conservative estimates on rent/expenses is should give around 11%+ cash on cash return and according to Zillow's Zestimate would provide an additional $20k in equity (I'm not too hopeful for that as Zillow seems pretty unreliable for pricing).

Sounds as if your parents would take on a lender role rather than partnership role, therefore, the documents are pretty easy and straight forward.