. - We have 2 children (ages 9 and 11).

They proposed higher than market rent, but want to keep 2 people from thee organization volunteers in one room in future.We checked the website of the non-profit organization, their program include several categories, including helping international children to school, housing for the homeless, etc.

Know that children are rough on properties versus older adults with no kids.  

I have a husband and two small children.

We were planning $600/mo mortgage payment, $100/mo insurance & $100/mo taxes - balloon payment in 5 yrs.We are providing $5k to pay back taxes ($4k), back hoa ($125), pump septic & grease trap clean out ($225), survey ($600)  & our children are paying closing costs ($1500).Deal stalled as owner backed out on seller finance.Suggestions?

Anyhoo, my long term goal is to build a rental “empire” to pass down to my children and so on. 

Let me break it down in simple terms.In Massachusetts, if your property was built before 1978, you cannot rent it to families with children under six unless it complies with the Massachusetts Lead Law.

I personally would like to create multi generational wealth ie his children's children and I will have that conversation but not until he launches and gets his own life going.  

Almost have to be the child of people with no brothers or sisters who are also children with no brothers or sisters, or the family has to have super bad luck. 

Hello Huy,I found this great article that might help you.https://elderlawms.com/faq/do-gifts-of-property-to-children-...Also, you might want to consider taking over the property sooner rather than later, if you take over the property now it appears that you would be avoiding Inheritance taxes.