You're a lucky man. As

@Liam GalbraithHey man! A

This is the whole give a man a fish versus teach a man to fish mentality.

From the best I can tell this is a convicted felon who opened up his home to 2 roommates.I realize that woke millennials of the "share economy" may call this man a landlord, but I don't.

The issue: tenant is an elderly man, a smoker with a dog and doesn't want to move.

This is the exact strategy my wife and I used for our first and currently only investment property, except ours is 4 hours away in the same stateProperty management is up to you depending on how passive you want it, I’m currently self managing from home and have a great cleaning/rental turning company, handy man, a heating and cooling guy, plumber to cal, etc. no different than owning a personal home really.

There is no ‘middle man’.As the trustee of the plan you go to any financial institution of your choice (a bank, credit union, brokerage firm such as Schwab of Fidelity) and open non-custodial account for a trust.You request a direct rollover from your Traditional IRA or former employer 401k and in few days receive a check payable to (for example) ABC Solo 401k Plan FBO John Doe.You deposit this check into newly established bank account for the Solo 401k Trust.Now that your plan is funded you can make investments as simple as writing a check.

Clearly I am joking and I want the best for my friends kids, but my point is giving children something for nothing and they have nothing to do all day except counter money that is coming in from cash flow can be a dangerous thing.It goes back To give a man a fish and feed him for a day or teach A man to fish and feed him for a lifetime.I had my son by his first house at 13 years old with his own money he had saved and taught him how to take over back taxes and get owner financing for the rest.He is 19 now and has done multiple properties, he is in the middle of two projects right now I’m top of his own property that he’s living in.

House hacking with a 10 bedroom place with 8 unpermitted rooms looks great on paper...........until a new owner takes over .....and a disgruntled tenant decides to make things difficult for the new owner.........by telling god knows who that you are running an unpermitted rental...........actually 8 of them.It's not worth taking that chance man. As

When a man as wise as Bruce is willing to move out of state, it's something to seriously consider.I, personally, would love to move out of state but my wife has a great job here and more opportunity that won't transfer to another geographic location.