This is probably what I would do to have your cake and (to some degree) eat it.- Sell the bay property. @320k (which still seems so low to me!)

The mom thing, come to think of it, is the icing on the cake.

Seller financing should be icing on the cake or possibly a way to get the deal done if you can't qualify for a conventional loan but it should not mask a deal that doesn't make sense.If you want to calculate the value of you buying with seller financing you can calculate the Present Value (PV) of your deal based on the concept of time value of money being that money paid over time in the future is worth less than money paid now.

The primary goal is strong cash flow, appreciation is just the icing on the cake as far as I'm concerned.

FYI: The spots where two different paint colors meet are called "cut lines"Then in a bthroom, they did not replace the old wooden framed window and the window had a bunch of caked-on dirty spots and caulking - this is a no-no as its shows a lack of quality and when prospective buyers see items like this, their natural feeling is to suspect that other work was done poorly.My best advice is to not leave anything in the home that looks like poor quality work.

Turnkey is about reliable, passive cash flow, not appreciation (we call that the 'icing on the cake'), and you do give away a piece of your return for the luxury of having someone else do all the work, but you shouldn't be buying a house with negative equity (paying a lot more than it's worth).There are a billion other things you should keep in mind when looking at turnkey, but I've rambled enough.

He has other poor investments which I'm helping with but this one takes the cake.

(not disagreeing with the idea of owning rentals, since that is what I do)Besides the real estate, I bake and sell gluten free cakes and cookies.

The icing on the cake is that they will include YOUR debts PLUS his debts when calculating the Debt to Equity ratio of the applicants.

If you call it a business shortterm rental, and use it yourself more than 14 nights a year, they may call it a personal property and disallow depreciation/expense deductions.Sounds like they're trying to prevent some "have your cake/eat it too" dancing on both sides of the tax deduction game.