Without having much info, I would need to know the financial situation of the 'close family' to determine a best approach.

The weekly rentals were $8,000 (June) & $8,500 (July-August) As the summer season rental is approaching us, we are faced with a tough decision.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

Many lenders allow for low-down-payment options if the rental income covers the loan.You’re approaching this deal thoughtfully, but be sure to communicate the benefits of your offers clearly to overcome resistance from the seller's representative.

When we do a shell, cost segregation is the best approach.

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment.

These I have found are real, striving parents, working their butts off to provide the best housing and school system for their children.My ethos in this approach is exactly why we at LaPlante refer to them as Residents, as we consider "Tenant and Landlord" to be dated terms and rife with negative emotion.

Most stop their analysis at LTC leverage which is a flawed approach.

This straightforward process allows you to verify encumbrances before considering a property investment.Alternatively, engaging a title company can offer a more comprehensive approach to uncovering liens.

As an investor and realtor I took the opposite approach.