I would suggest looking to bring in a partner and give them a percentage of equity for the $.Another option is to take profits from flips to grow or look to sell some of your rentals to grow as well.

The first being - don't bring your friends or family into the mix :)Since it sounds like you're pretty solidified in your friend moving in, and it could be a good first roomie, so just to get your feet wet... i'll double down on Laura's advice - do a lease, for the legalities, but i also highly recommend some sort of written (we call it a) Room Mate Agreement.

I do not want sales agents in my market to believe I am expecting a fee each time I purchase a property and go out of my way to make it known to the broker community that they will represent me and collect their fee if they bring me a deal.

I respect your many years of experience Jay but want to bring some perspective from the other side of the table.In a corporate office which is running 10, 20 or even 50 projects at once (depending on the firm size), what is the benefit for the Architect to drop their other projects to jump on yours quicker?

If you are paying no rent in your parents beach house that could bring in a lot more to your family being rented as a beach house during the season. 

So I would give all of the their walking papers, bring your unit up to market or slightly below, and get it rented to a good tenant.

Once you add that in to the purchase price it brings your $180 sqft right back in line with the competition at $203sqft.

Here’s why:An investor-friendly agent brings market expertise, including knowledge of local regulations, zoning, and permitting.

Now that I found out about my property I just had to take down from mls, I decided to bring that contractor through this one.

If the dogs didn't bring the fleas indoors, the home wouldn't have fleas.