My wife has a house with a small mortgage left on it and long story short...one of her kids is the other "owner" of the property.  

How long does that take?

I agree with the other contributor that it’s better to own a $1M asset that appreciates 3% per year that pays no cash flow (over the long term) rather than a $100k asset that appreciates 3% and pays $300 a month in cash flow.

@Matthew Becker doing short term rentals? 

I have never had a home where I've waiting this long to turn utilities on, wondering if this is the norm?

20% down is doable for a lot of lenders, 15% down is available in some cases but will come with horrific terms. 

If it qualifies as a short-term rental, you might also avoid passive loss limits, making the strategy even stronger.If you’re considering a cost segregation study, DM me and I can point you to some solid firms in SoCal!

From what I’ve gathered, it’s crucial to connect with local agents and attorneys since they often learn about foreclosures before they even hit public records.It also helps to keep an eye out while driving—homes that appear neglected or have been vacant for a long time often signal a pending foreclosure.If you're considering this strategy, be ready to move quickly.

Look for undervalued properties, explore FHA loan options, and consider mid-term rentals to maximize income.

I have several short-term rentals down here & am an STR expert in the area.