In summary, an ejectment seems far more burdensome for the Landlord/property owner than a eviction in a typical landlord/tenant relationship. 

If you’re not yet married I would recommend a partnership agreement that spells out your agreed upon exit strategies in the event that things go wrong with the investment or your relationship.

This would allow you to exclude up to $500,000 in capital gains as a married couple filing jointly, or $250,000 if filing individually.Since your brother-in-law owns 10%, that portion of the sale might not qualify for the exclusion, and you'd need to discuss the tax impact with him.This post does not create a CPA-Client relationship.

I have a great relationship with my primary lender and they require at least 20% down.

So now you’ve gotten a wide variety of PERSONAL opinions, all based on the individual bias of the posters and their past relationship, feelings, fears, and experiences with THEIR debts.  

I think she actually had a really good idea.she believes that providing gift baskets for first time tenants that include general house warming gifts, cleaning supplies,maybe a recipe book  and even a small book or brochure of how to care of  a house would be a great start to a relationship/good tenant.the goal of this would be to obviously motivate your tenant to take care of your property, keep it clean, and to create a level of respect between both parties right off the bat. that means (rent on time, communication, a good experience from beginning to end.)im interested in hearing your thoughts about this and if any of you are or have already tried it?

Going forward with a relationship with a local bank is a great idea.  

If you need to deal with property related information on a regular basis i recommend you cultivate a relationship with a Title company.

I do this not only to guarantee the full amount BUT to protect the relationship with the Tennant over the long ARC. 

Building up funds, fostering relationships, and learning skills takes YEARS.I think you have a great mindset and are asking the right questions, but take a deep breath and enjoy being young.