That's a terrible idea.He should either install a smart thermostat that allows him to set limits, or he should remove her from the property.

Allows rentals to be non-passive.

We both run our own businesses but we feel that real estate will help make sure we both maintain our life plans of not needed to work as much any more.

Friendship and business don’t always mix well, so it’s critical to use a solid lease and treat this as a business arrangement.

@Michael Quarles I can honestly say that I've never gotten any solid business from postcards.

So if you are in a 30% combined tax bracket you get an additional $3K due to write offs.If it is a rental, you can write off the business expenses and the depreciation on the non land valuation. 

Cost of doing business.

Holding company typically if you have multiple companies like a property manager, own property and other businesses. you will end up spending more per year on accounting and state stuff than what you make on your rentals. 

Over the past 15+ years in this business, i have seen the good, the bad, and the ugly. 

These loan products include a partial release feature that allows them to be repaid gradually as TIC interests are sold, and ensure that the sold TIC units are not encumbered by a blanket encumbrance.- The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.