I was leaning towards ST and my sister insists that LT will pay off since contracts will be 12 months +. 

I already have a SFH I bought with my sister also in the Bay Area but this one is just for me and the future wife.

It's my sister-in-laws neighbor, so I know the neighborhood pretty well.

Also my wife and her sister from Denver have partnered on 3 six-plexes, a duplex, and one crappy single family home in Great Falls.

One added detail is this other couple are family (my husband's sister) so we need everything written and laid out clearly but with the assumption we will operate within these boundaries without going to court...meaning we don't need every word to be air tight but need it to be clear cut (as a side note I'm not interested in hearing about horror stories of doing business with family, I have done real estate business with family for over ten years and am fine with it). 

I would walk away,  If that was my sister, I would say if it’s a good rental, rent it out for 20 years, paid on the mortgage overtime, and hope for some appreciation

Her mother is still alive but moved in with her sister about 2 yrs ago.

One property is under my name and the other under my sister and myself.

I’m moving to a new city (Dallas) for my first decent paying job and I’ll have the option to owner-finance a house for 5-10% down (and be much closer to work) or stay with my sister (for very cheap) and save up 20% to get a conventional to buy a rental.Which would you do, BP?

About a year later and Duplex that I bought at Foreclosure has been rented out to two sisters both with children and is cash flowing nicely the sfh that i bought from the landbank in Louisville is done and also rented out, also bought another property and working on buying my 4th house in Louisville hopefully closing this next week.