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However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

But could a potential approach look something like this?

I’ve worked with investors who have used this approach successfully, so here’s a quick breakdown of what you need to know.First off, you don’t necessarily need to own the property outright to offer owner financing.

@Brody Veilleux, I don't think there is anything wrong with this approach in general.

Your current approach leaves your PL exposed to any title flaws that might arise.2.

Welcome to BP @Cory M.Your approach to starting with a single-family or duplex and gradually scaling up is sound, and focusing on cash flow and maintaining reserves is a prudent strategy.

I’d love to hear from anyone who’s been in a similar position or has advice on how to approach this.

While your parents may have experience and a simpler approach, even with just two properties, you could miss out on key deductions like depreciation and interest without professional guidance.

This approach allows you to ease into being a landlord while building a trusted team.