My wife and I both have decent paying jobs, but after paying rent, vehicles, student loans, etc, there’s not much left over for saving, let alone 20% down.

Graduating college, not wanting to pay rent, saving a pile of cash, thinking about hacking.   

Black Friday is coming up and you can probably save more.

I would leave yourself a lot of cushion regarding savings.

A bit pricey up front, but we are long term buy and hold investors, so the savings on paying for tenant heat makes sense.In the 6-unit our initial thought was to install electric heat in the units, but that can be a hard sell in Maine even though I am not convinced that electric heat is necessarily more expensive than other options (we even did a comparison last winter in our 2-unit where one is on a propane boiler w/ HWBB and the other electric, and it was about the same cost per month).  

This seems like a lot of work to save 15% of $35k in taxes (Less than $5k.) especially if you have transfer taxes or title insurance, or you convert your long term 15% rate in to your son’s regular income tax bracket.I hate paying taxes as much as the next guy but this lemon isn’t worth squeezing.

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If you are trying to maximize space you may want to consider convertible sofas and/or one that has a pull out option.As far as material my preference would be a darker neutral color microfiber that would be easier to clean.Possibly most important is looking for one that is commercial grade for durability.

I agree - it's a smart way to get into real estate—especially if you want to save on living costs and start building wealth.

Knowledge can save your bacon.