Quote from @Kieran Dowling: Hello,My parents helped me by my first rental property .

Also, if your wife and her parents were the real estate investors first, why aren't they weighing in? 

If I wasnt going to be doing this I would just be saving more money and staying for free with my parents.

Becoming a LandlordYour house appreciating at 5% annually = $25K/year.Your parents' larger house = $30K/year.Financing the PlanTake out a mortgage on your house to buy your parents' house.If their mortgage rate is lower than today’s rates (6.75%), keep their mortgage and assume it.Why It WorksYour tenants pay the mortgage—not you.Each monthly payment includes ~$300 toward the principal.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

Require co-signers (like their parents), check references from previous landlords or college housing, verify enrollment status, and personal interviews to gauge responsibility.6.

Parents and sibling died in the home.

I do know Walter and have known him for more than 25 years, he is upstanding and he is smarter than the average bear, he's in the deal to help people and I have learned an immense amount from him I am now 67 years old and I bought my very first home by having my parents cosign!

I was born and raised in Prescott Valley, which is where my parents still live.

Here is  the biggest question - I expect withholding  $1.00 of the security deposit is going to cause friction.