@Bradley Buxton makes a very good point to make sure to do your due diligence as you won't be an owner occupant like your in-laws.Last bit of advice: Because this is a friendly deal, you want to take your time to make sure you structure it in a way that maximizes tax and cashflow benefits for both parties. 

Over the years, with personal investment alongside investments from family and friends, I’ve been able to build a small portfolio of apartment buildings with a focus on cash flow through strong operations.

Hey, Friend!

A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

My personal property is located in pennsylvania and my friends who are foresters have told me I have oak and hickory that are 250 years old which is unheard of in PA. if I were you.

I am friendly with all the owners, and I know that I could remodel and create a cash flowing MTR in each instance. 

I have friend who has a running joke that I cannot even get on one.

Now, I'm shifting my focus to multi-family properties, particularly in landlord-friendly states.

Not to mention the idea of my “business†relying on my friends and family also being suckered into signing up is just appalling.

I would say however that if you are looking to buy rentals then the landlord tenant laws are not landlord friendly.