Two main reasons. 1 is we make money a whole bunch of ways as I described above. 2 is you cannot keep all properties as you will run out of capital.

Sometimes OSCN has actual docs describing the situation.

I've not tested multiple agents yet, but I imagine it would turn out like you describe.

I just described a house I liked and via photos would have bought it based on that.

It consists of a side-by-side duplex and a separate unit behind it that is what the selling agent describes as a “shell”.

I wrote a pretty lengthy article on how to do exactly what you described HERE It's a little lengthy so feel free to ask more questions if you need. 

They simply see exactly what you described - inexperienced land owners with good fortune.If  you keep looking you may find a relationship that suits both of you. 

Below is a publication the IRS put out to understand the taxation of rental property.https://www.irs.gov/pub/irs-pdf/p527.pdfThe IRS describes that charging a family member rent that is below market rent is considered a personal day.

The refinance is correct as you described except the unsecured loan was only for $33,464.34 after some credits on the closing statement from seller.

Definitely don’t buy at market value for a rental with 100 percent financing.From what you e described I’d recommend saving more.