Nope, time to read a book on RE!

Unless you plan to sell one of these in the next 5 years, you'll probably get a better deal if you try to refi both of them at the same time.

@Bradley Buxton makes a very good point to make sure to do your due diligence as you won't be an owner occupant like your in-laws.Last bit of advice: Because this is a friendly deal, you want to take your time to make sure you structure it in a way that maximizes tax and cashflow benefits for both parties. 

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

For the time being, might as well get a mortgage in one person's name.Best of luck.

welcome. would love to connect when your time allows

All things considered, on the market for months, its now winter time, cold weather, holidays, and dark at 5 pm, not prime selling time, I offered $250,000. 

Rates are a bit higher but if you can leverage up to do more than 1 flip at a time, it will be worth paying the lender fees.

First time reading this term. 

I am very familiar with investing in your backyard, and am down there several times a week, and let me tell you, you are close to some great opportunities!