BTW, a lot also depends on which state you are in .Here in Texas, its much more landlord friendly than other areas.

At 19, your friends may not understand your drive.

NJ is very blue, liberal, tenant friendly state.

Quote from @Jemini Leckie: Hello, I am trying to understand the Orem, city code to determine if I am allowed to rent my basement ADU that I currently live in two a couple cousins and their friend.

I imagine that if ALL the LP"s protested with Form 8082, the IRS might have taken note.I need to write some posts about the Tricks and Traps that some syndicators [not you, of course] use to the detriment of the LP's.But the Form 8082 is your best friend.  

From what I can see around here it is a landlord friendly state so when you turn your prop into a rental you should do well as long as the numbers are good.Acquisition is all about entry price.

In addition, a DIL does not automatically satisfy the underlying mortgage/DOT so if you accept a deed from the DIL grantee you may find a title insurer will require a release or sat of it before insuring.We have often used a “friendly” foreclosure instead of deed in lieu when we needed to “wipe out” liens junior to ours before taking property title.   

@Duarte MarquesPossibly but highly not recommendedFor those with no real estate experience or experience in taking on debt, it’s not easyTo do it also with little to no down payment or reserves in most occasions will end in disasterReminds me of when in high school a friend used to let his dog drive his car.

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

Abandon the Peurto Rico dream for now and look at more realistic/beginner friendly areas that still sport a large latin influence and strong rentals, like Florida (I've looked a little bit outside Miami..Boca Raton, Tampa, West Palm Beach, etc).