If your goals are long-term - this market will offer a ton of appreciation and steady renter demand.

If you need any help with the financing, Aslan is beginning to offer the Chattel loan very soon which could be a great help.

With the capital and experience to offer I've seen this work well as a joint venture.

You can structure it as an LLC or joint venture, which offers clearer tax and liability benefits.Your son doesn’t need to be on the loan or title if he's a silent partner, and you can manage the mortgage, credit, and insurance.

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

A HELOC offers flexibility and interest-only payments but can be risky with rate fluctuations.

If you are looking to expand your knowledge I highly recommend the webinars BP offers. 

Some of the best ones are offering rates as low as 5.75% at no cost to you, it just requires a 30% down payment.

I would like to offer a place to sleep in the living room but I'm not excited about the options I see for sofa beds or sleeping sofas.

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.