Families with small children will avoid the property.

It is for a 3BD (including master suite overlooking a lake), 3Bath, nice neighborhood.I'm trying to figure out the wear and tear I can expect from different prospective clients like:- Teenagers- Children- Boys vs. girls- Old vs. young- Extended family (e.g. grandma, mom, daughter in the house)- Other?

The analysis may change depending on if you are flipping, wholesaling, buying-and-holding, etc. and also whether you plan to use financing or not.You'll also want to start thinking about such things as can you transfer your ownership share - what if one partner has children he wants to leave it to? 

I would respectful, polite and sympathetic as if if were a friends children.

The main reason we'd like to get into RE is to help supplement our income since my wife stays home with our 3 young children.

I also had a young deeply religious family where the husband worked and the wife stayed home and home schooled the children in their faith. 

The downside to trying is limited to the cost of furnishing the property, and even then, you may be able to rent it out furnished on a long-term basis if the ST stragtegy doesn't work out, or sell the furniture for that matter.We started STRing back in January 2018 and are documenting our learnings (which are growing :) ) at our blog here (http://www.trihomestoday.com/blog/) if you're interested.Good luck and feel free to reach out with any other questions!

How did/do you balance young children, working full time, and still moving forward on the goal of good management and more properties?

No one can determine that but you guys.Can you put your older children in the same room for a year and focus on paying down debt and rehabbing?

., your parents and children, for example) by the IRS will be deemed prohibited.Unfortunately, such transaction would violate the following prohibited transaction:https://www.irs.gov/retirement-plans/plan-particip...