It's not unusual that a couple might bring a friend or relative with them during a viewing but in this case the deal was mom and dad, the married daughter and her husband and one child were interested in renting together. 

BTW, if your family member is trying to negotiate a discount, the only likely avenue would be a short sale and no other family members would be eligible to buy it through a short sale due to arms length transaction and non related parties restrictions for the short sale. 

You get to prorate some the expenses that would be personal in nature and all the expenses directly related to the rented portion are 100% deductible.

I only say that because I once posted my smallest house that had to central heat or air at a relatively low rental rate. 

They know the real estate laws and anything related.

Most of the areas of town with strong rent to price ratios are also places where it's relatively more difficult to attract tenants and also where turnovers are more common.

And with modern technology like pricing and property management software it is relatively passive. 15-30 minutes a week.

I've had an eviction in the past - relatively inexpensive, I don't recall the exact cost amount (I think it was around $1200) and took about 30-40 days.

If we refinance it we could cash out $150K and still have it make $100-200 in cashflow each month.That being said, how would you spend the money if you were relatively new?

I also set up the LLC and am in charge of all tracking, accounting, checking vendor work, tenant relations, two how’s, etc. he sends the money and bills and I do the rest.