as Update to this post from 6 years ago, there are heloc's on owner occupied 2-4 unit properties up to 89.90% CLTV or combined loan to values (meaning multiple loans but all together not exceeding 90% of the value).Terms typically areinterest only first 10 years and drawable from the lineyears 11-30 its Principal and interest payment Prime index/rate + margin (this portion is fixed but prime is not)underwriting is done assume prime + margin + 2% stress test for underwriting meaning if your prime + margin was 10% then your underwriting rate used to determine your maximum line you can qualify for would be 12% rate as an example based on principal and interest payment over 30 years or 360 monthsIncome is the main determinant of your qualification and fico min 680+ is just the min score to get through the "front door,"Maximum DTI or debt to income allowed is 45% DTIMaximum lines on this product go from 500-750k so you can get a decent line size that can actually buy other BRRR's or fix flips and deals.

Yes, you get your rent from the government like clockwork, after you wait 30-60 days for them to set up your account, but what about the tenant's portion of rent?

They have offered to sell this place and gift us a portion for downpayment.

Under Texas Property Code section 92.019, a landlord mat not collect late fees for failing to pay any portion of the rent unless the landlord provides notice of the fee included in the written lease, the fee is reasonable, and any portion unpaid has been longer than 2 days after the rent was due.

Would my mother's portion be affected or are their tax implications for her with this type of transaction?

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories. 21.64% of the total depreciable basis was classified as 5-year class life.

This means it should cover all your expenses including mortgage, taxes, insurance, maintenance, and setting aside a portion for reserves to cover vacancies, capex, etc.If you can put down 10% and cover everything, go for it.

The subsidized money is nice because even if the tenant stops paying their portion you're still getting something.

There was no way the cash flow for the self-storage portion made any sense.

Thanks James,I'm still in the research and learning portion for sure and am doing my research on high price markets.