Documents off Google never work, as I tried...too many times.

So knowing your numbers before looking at properties is huge or bring your contractor with you when you look at properties so as to not waste any time!

You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.

@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. 

Figured there would be a few data points left out of the equation' that I would need to circle back with :) .There are additional units not rented at this time which could be rented to increase the income.

Without too much detail I had to quit my W2 job 2 years ago to care for my disabled son and my wife is still working.

Nope, time to read a book on RE!

If you can't identify why an investor would want to buy it - you'll likely have a hard time moving it

Lastly, always keep your job and build your employment foundation because that keeps you income relevant and lendable.Hey thanks for your reply!

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