If you have to bring in a partner with more experience and or funds, that may also be an option to help maneuver through this deal.

Originally, my lender said there wouldn't be an issue financing the home as a primary residence because I am on the deed and will be living there.

Could be an absolutely gigantic cost and ruin the deal for you, or could be small.

Unless you're in the south during the summer...which no one uses a hot tub there during the summer away....it shouldn't be an issue unless the well is bad to begin with.

Maybe they can be an asset to you. 

Actually I almost spit my coffee out this morning as there is a guru in the "pick what I am selling today space" who claims to make close to six figures a year in passive income and was saying they made their money from investing in notes - and I saw them make a post today that "this is the reason I no longer do notes" in another thread.

Good time to be an investor with cash in my opinion, but you have to be the type of person who is greedy when others are fearful.

Happy to have a call or meet for coffee, could show you the property if that would be helpful in your learning.

I'm hoping someone will clarify...RentsAdvertising / Auto & Travel / Cleaning and maintenance / Insurance / Legal / Repairs / Supplies / Taxes / UtilitiesMortgage interestDepreciationFor long-term rentals...what would be an example of CoGS?

And best of all that child of yours is getting a better education in real world managing the property than they are in class.Partnering with your children can be an awesome!!!