My main concern would be living in such close quarters if the people renting the rooms turned out to be dead beats.

@Joseph Brown Join TREIA (Triangle Real Estate Investors Association)...it's about $150 a year, or you can join for a quarter for a lower price...and you can look on their inventory list of investment properties that have been posted by members.

There is a national group that meets quarterly in Vegas.

In legal terms, [Tenant] is not renting a room from us, but rather a one fourth indivisible share of the entire apartment.

I read a recent article by one of the very best Economist in the Real Estate Business that anticipated growth of 4 to 5 percent occurred in the second quarter.

Their k-1 income flows into UTMA mutual funds and we go over the statements every quarter. 

Here's more info and link to the graph that was posted earlier (note some areas appreciated far better than others..)https://www.bayareamarketreports.com/trend/3-reces...And if you want to see crazy appreciationThe analysis below uses second-quarter MLS data to determine where prices rose the fastest in the most recently completed quarter.

When UCLA forecasts this stuff it is pretty detailed and even considers airport traffic, port traffic, warehouse and office availabilty, developers and more if you are interested in that stuff they do that quarterly. 

If it were me, I would plan quarterly inspections for a while, just to make sure everything stays ok.

What you are talking about is basically an equity-only note, where you pay a set amount monthly, quarterly or annually (whatever works for the two of you).