We currently own a 4 plex and recently purchased a condo new a university campus for our daughters/rental.We're looking to add to our properties to create some future cash flow.  

I watched my daughter turn one and spent a ton of time with family.

RE is a great avenue as you know and applaud you for getting back up and pushing forward.My daughter is also a computer sciences major at UT so we have something in common.

Here's some backstory:I'm a 40-something single dad of two daughters age 20 and 18. 

Students must live in campus approved housing for freshman and sophomore years, and junior and senior students with scholarships are also required to do so, however juniors and seniors without scholarships tell me they are anxious to live "off campus"Since apartment is one block from university, students can walk to campus, saving them parking permit fees.Additional income could be had by putting in coin laundry, soda/snack machines, and renting out storage units in basement as well as garage space.I have a friend that currently is the maintenance man for the entire university, and he is questioning students as to how much rent they are paying to live off campus currently.OPTIONS:  Rent furnished apartments to 4 students per two bedroom and two in basement unitRent furnished apartments to 4 students per two bedroom and create common area in basement for study/recreationRent all units unfurnishedOption to raise rents by including all furnishings, cable, wifi, cleaning service etc. with them simply paying rent and electric.FINANCINGtax value (not market value) 105,000Taxes $2,200 with no exemptionsProperty currently has a 30K mortgage left of a 55k loan previously taken out to "give first child his half"Owner, due to age is most interested in payments, and leaving remainder to 2nd child for "her half" Owner has expressed the following offer :30K to pay off current mortgage, and 250K to purchase an annuity that would pay $10K/year for his and his daughters lifetime.In its present state, I question whether the property is able to be financed FHA due to condition, though it is a solid building, the maintenance has been deferred.comps on property are practically non existent.MY SITUATION:I have perfect credit, and am about to flip a seasoned home with no mortgage and expect to clear approx. 70K.I am single, steady long term employment, and have no debt.I have a realtors license in inactive status, and have hands on experience with major property improvements.I am a "Dave Ramsey" girl, and debt makes me quiver...  :-)Note: Property is currently in a Life Estate Rev.

Both daughters held title until 2005 and transfered property into the mothers name so she could get a reverse mortgage.The mothers will, which was recognized by the court, gives the property back to the 2 daughters after her death.The problem:The husband, the person still living in the property, is claiming ownership and refusing to let the daughters into the property to collect their mothers person effects.

I'm familiar with lead in old houses as my daughter was diagnosed with high lead levels in the 1990s.  

I talked to the daughter and she said her other siblings want nothing to do with it and it's just costing them money.

The other I rehabbed for our youngest daughter the new landlord. 

I use my teenage daughter.