It's in a rural town so I'm also worried that demand might not be as high as in more densely populated areas.I'm planning to call local banks this week to understand financing options and contact some contractors who might be interested in building additional units. 

  $200/month divides into the $100K initial negative equals 500 months to recover the initial negative equity.Let's double the cash flow to $400/month.  250 months to recover the initial negative equity so over 20 years.Let's reduce the negative equity position to $50K (which likely is less realistic than expecting $400/month cash flow at that rent point), you are at over 10 years to recover the initial equity position.Now let's do it with all cash, no financing.The 50% rule state $900/month cash flow.  900 * 12/200K = $5.4% or about half of lifetime return of S&P 500, or what can almost be achieved with a zero work, zero risk CD.I see no way that someone who understands the numbers will call this a good investment.Note just because an investment is better than most other investments in a market does not imply something is a good investment. 

That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

You essentially end up paying over $300 per month if you attempt to start making calls from the dialer.

You're using a company to manage tenant phone calls/inquiries and then send in vendors for repairs.

We call this eliminating the need for a 1031 exchange.

It worked as a call center that would do the same as Turbo Tenant's but it was a lot more expensive.

Storing things.Even if the appraiser risked his license by not calling the bathroom out (why would an appraiser take that risk?)

It may be tempting to treat them as one property and do what is called "cross collateralization" in order to maximize the amount you can borrow.

Someone called me today (probably his wife) and said Preston has been trying so hard to clean up his image and was upset by this post.