An article from The Mortgage Reports explains:“The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals.

Good luck on your journey and I hope you provide the financial security you hope for to your daughters. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

@Daniel GrantzRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

So, the value is that an investor has zero financial risk on the front end and spends zero time creating the opportunity.  

Looking forward to building a better financial future.

It was bought in 2004 and due to financial issues, I believe ~$197k is still owed on the mortgage.

Consulting a tax professional or financial advisor familiar with these rules would be a wise step before making any decisions.