If the person managing the synidation does not have a pre-2007/2008 track record, that is not one I would get involved in.

My kids went through this around the same age and still have an interest.Teach him financial literacy and include him in what you are normally doing.

I pay .07 per record.

My personal rule is to never invest more than 10% of my financial assets in any one deal.  

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

Record yourself too for feedback. 

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

She has a higher FICO score but full of eviction records which I was aware after she moved in and was late for the first time by using another public data source.

There's so much content and so many individuals who push inexperienced investors to take action before they are financially ready while downplaying the risks, particularly those associated with  properties in lower tier neighborhoods.

@Ibrahim AtoumIf you're starting house hacking at 20, focus on building your knowledge and financial readiness.