Of course, check out occupancy limits in the county/city that you choose.If you want the least amount of work but lowest cash flow (cover 50-80% of your mortgage payment), I recommend finding a house with a basement/mother-in-law apartment, and live upstairs and then rent out the basement to a long-term tenant.Denver metro has experience terrific appreciation like most metro markets, and over the last 40 years, Denver averages 5% appreciation, so Denver is a great bet long-term.I'm more than happy to discuss further if you have any questions.  

I spoke with my mother at the time and she suggested if I made an effort to make more consistent income and save up $20k I could approach my father about cosigning my loan.

The seller was in need to sell ASAP so he could move on with his life after his mother's deathI wanted to invest to gain some experience and move towards my goalsThe tenant was desperate to find a place for his family of 5 after being kicked out of his previous house by the heir of the property after the landlord's death.Both the seller and my tenant became my friends.

The seller was in need to sell ASAP so he could move on with his life after his mother's deathI wanted to invest to gain some experience and move towards my goalsThe tenant was desperate to find a place for his family of 5 after being kicked out of his previous house by the heir of the property after the landlord's death.Both the seller and my tenant became my friends.

It is in an amazing area; three miles from my mother's and the growth has been steady.

Those places that I've listed above are fantastic, and I've seen people achieve great cash on cash returns with pretty basic ranch style homes, basement apartments and mother-in-law additions. 

(We inherited this guy and his mother when we bought the property.

If we bought a house and a mother and her two kids are in it and we were never given a lease agreement or deposit how do we get them out and get their stuff out?

The property is a huge 6/4.5 duplex with an unfinished mother in law suite in the backyard.

Looking for advice or credible resources on understanding the tax implications of renting below fair market value (FMV).Background:I'm considering purchasing my mother's condo and renting it back to her for below FMV for as long as she wants to stay in the unit (est ~8-10 years).