I've been digging into that over the last few weeks a little closer.   

Times are changing somewhat though, so maybe over time if they are not supportive now, they will be at some point in the future. 

After a few years, you can rent it out and do it all over again.

My business partner owns a roofing company but has weak credit and more limited cash flow.Honestly it's really best to speak with a CPA to go over what strategy would be best for you and him.

In this post, I will explain the criteria and the information sources.Income requirements for financial independence:Rents increase faster than inflation: Inflation erodes the value of money over time, causing prices for goods and services to rise.

Great you take over a loan but why?

They will usually want to see you have the capital for closing costs and some "reserves", meaning they want you to have a few months left over to cover any surprises.

But this is definitely a CPA question because the IRS rules are based on your AGI and phase out if your AGI is over $100k.

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.

So it looks like we are already over Our expected budget and approximately 75% done in guessing.