- Should I invest $40K into converting my parents’ single-family home into a three-family, even though the immediate return might only be a few hundred dollars a month?

My family is donating supplies for the flood.

My parents and relatives are always shooting down the thought of multi-families. 

You could then create a series LLC with each property held in child LLCs under a parent LLC.

I’m moving out of the house soon and will be living rent-free with my wife at my parents' place in the Bay Area due to some recent life changes.Here’s a breakdown of my situation:Location: Sacramento, CA (4 bed, 2 bath, recently renovated)Current mortgage payment: $3,940/month (including escrow)Mortgage balance: $475,000Current home value: $515,000 - $535,000 (based on comps)Rental estimate: Property management companies are quoting $2,600/month (with fridge/washer/dryer included), but some websites suggest it could go for up to $3,000/month.Planned budget:$540/month for capital expenditures and maintenance$100/month for lawn careTenant to cover utilities (gas, electricity, water)7.5% vacancy rateWe bought the house thinking it would be our forever home, but with our current situation, I’m trying to figure out the best long-term plan.

Bigger Pockets has done a lot for me personally and was a major contributor to our Aheroshome.org mission which we were successful  we donated a fully renovated home in Memphis to a deserving Hero and it was a collaboration of prominent BP members executing the mission and BP members donating funds for the mission.

And it often is not on the top of lists for parents to pass on to their kids anymore.

I’m currently being put on my parents feed.Now, I want to get a loan to pay off their balance $45k, get a lower interest rate (and yes it would be lower, believe it or not theirs is 9% and has been for years) and pull money out for some debt at this point I only want to pull out $20k.Obviously, there is equity.What’s the best loan for this?

Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs.

As the parents age, we'll probably move to Des Moines or Cincy, so I'm thinking of the bigger picture.