I'm looking to make this part of the retirement stream of income rather than an effort to accumulate multiple properties.

His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

The PM vets I know will all confirm that you lose much less by lowering your rate of (monthly) rent than by missing an entire month of income! 

@Kin LayThere could be gift tax, income tax, and property tax implications to a proposed transfer. 

Well, apart from “if you give me $3000.”Luckily this is a co-living model through PadSplit so I have some income coming in.

Firstly, it often generates higher rental income compared to long-term leases, particularly in desirable locations or during peak seasons.

I have a self-direct IRA and could use some passive options.

I had to have Anderson re-do one of my LLC's from the other guys to save me money in annual state fees ..I look at it this way, as long as my business/investment income covers the costs I don't have a problem paying for reliable - worry free information and work.

The appeal of having a second source of income is very appealing and I would like to be able to build wealth outside of my W2 job.