That being said, we are not in a situation where we can be an owner occupied situation.

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

@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. 

You can list it for what ever you want as the owner. 

That's why you see so much trapped equity in properties owners cannot access. 

But if you have an owner-occupied policy while not actually living there, then you don't have the right insurance and may not be covered.

I think it just benefits current owners. our replacement cost variability just went up a lot for the next 4 years.

You can't add a lake but you can build out a great kitchen with everything needed to cook anything.Every STR owner will have a different answer.

Took about half a year to learn how to walk, talk and even eat again, but bounced back to my love for real estate investing and the two things that transitioned me from just wholesaling to actually buying deals as an investor was creative finance and private money.Bought my first rental property in Easley, S.C. owner finance and one of my best rentals I still own today was bought subject-to! 

Highway hotel on busy 35 highway. 19 hotel rooms plus owners apartment, large laundry room with commercial washer and dryer, large parking lot, front desk, lobby, roadside sign.