My main objective is to put my kids through college, wedding... 

This is where the taxable account comes in.  2) LONG TERM - If you have kids.

Would all owner's and renters' kids be eligible to go to the good schools? 

They are usually more concerned about security and are slightly less likely to have kids. 

The soffit wouldn't be terribly hard to build out and would look cool.Otherwise it looks cheap and like @John Underwood said, a kids room.

Quote from @William Hochstedler: Utah has been booming for the past decade by every metric. my kids did deposits on ski condos at Park City  NEW development and one at Brianhead and those things shot up like crazy.. they need to keep it up so they can take good care of me in my waining years.

Recently retired, and planning to rent out our current home as first gig, since we're moving to another state to be closer to kids/grandkids. 

I both personally invest in real estate and help others gets started/expand their portfolios in various Midwest/midsouth markets.What I do with my kids: My wife and I have 2 of our rentals that are on the same street, with a home in between them.

These “tests” were utilized with the specific purpose of segregating the classes in each grade; the “1” class was reserved for white kids, the “2” class was reserved for Hispanic “Puerto Rican” students, and the “3” class reserved for black kids.  

I'm kidding!!!