And the split is whatever you decide on. 50/50 is what a lot of people usually do.

Howdy,I haven't decided if we are gonna manage the property or hire a local area property manager yet.

Still, if you aren't whittling down the number you are analyzing financially to a small subset you see before deciding what to do, you are missing an essential part of getting to the tipping point of expertise in your field.

My family makes a joke about how those items aren't "Nickproof") At this point we decided to call it and come back tomorrow. 

It could also help you to decide what type of real estate you would like to focus on - i.e., residential vs. commercial. 

Originally from Pennsylvania, retired from the Navy in 2018, moved to Boise, ID (where I am now), and decided I want to buy my first investment property this year.

Start by formalizing a lease agreement, evaluating potential renovations to maximize rental income, and deciding on a rental strategy (short-term or long-term).

We decided I’d utilize an FHA loan to buy my first property.

If your children decide to sell it (you can't predict the future), they will likely face steep capital gains tax. 

I just have to decide