I convinced them to let me buy my brothers half instead.  

The 5 unit building was vacant and only about half renovated so it’s been a total lease up which has also occurred much faster than any other building I have because I have very little turnover typically.

While I'm not sure specifically if they or any companies that offer Damage Protection coverage for 2 - 6 month stays, I know some people require a security deposit for longer stays (sometimes only half month) to mitigate damage risk and sometimes renters insurance as well.

Townhomes and Condos: Steady and StrongThe townhome and condo market also shined brightly:Closed Sales: A total of 1,277 units sold, a 4.5% increase year-over-year.Cash Sales: Over half (52.4%) of these sales were cash transactions, up by 3.6%.

I would suggest you Buy a Home within a few miles of that JOB to avoid Traffic Jams.

A 1% rent-to-value ratio seems like a pipe dream as properties are operating at half a percent or worse, mirroring markets like Hawaii and California.

The loan we were applying for is an FHA, which stipulates we must provide a signed lease for our half of the duplex (to be newly rented out) but for the other half which the parents "own" (in reality all three are equally owners of the entire property.) we would need to provide proof of rental income on our tax return, however her parents claimed that so we seem to be SOL.The mortgage is covered, we can rent it out no problem, but the underwriter is saying on paper it looks like she is responsible for the whole duplex and the rent for half of it is unreportable.

But if the county re-assesses every 3 or 4 years, you will pay market prop taxes soon enough.I’ve been an investor for 46 years and this is NOT something I would do.Over this time, I have seen investors get themselves in trouble by being “too smart by half” often with creative tax structures that end up causing trouble but this is a another danger zone in my mind.I’d think long and hard before embarking on what you propose.If the acquisition doesn’t stand in its own merits and one needs to resort to chicanery to make it work maybe it’s not a deal.just my two cents.good luck,Arn

I'm wondering if anybody has experience with sectioning off half of the closet and locking it?

If you can find a duplex where you and your family live in one half and you rent the other half, that is a good way to cut down your housing expenses.