Just like you, she can do RE as a side gig and learn a lot more while she keeps her own nest egg going and her lendability strong with a regular job.You should loop her into a major document with all of the properties and all of the profit and loss and go through them one by one and talk about whether to sell or keep, and also base it on geography for her and your collective choice of management.

Yes, my mom would pay rent; or rather, I would be paying it but for purposes of the analysis I'm just assuming a regular tenant.

Regularly performing or overseeing maintenance and repairs c.

We regularly update it.

Add to that when you put <20% down, you're going to have PMI on top of the regular mortgage payments.

I monitor the cash balance every day and sweep against interest bearing debt or sideline the funds in an higher interest bearing account.

The plan is to: - Make regular payments on the seller-held mortgage for the agreed-upon term.- Pay off the balloon payment at the end of the term.- Immediately refinance the property with a traditional bank mortgage to pull out a significant portion of equity. 

I accept them and mitigate the risk by (a) screening the animals, (b) having a solid set of rules that are quickly and fairly enforced, (c) regular inspections, especially for cat units, and (d) charging a monthly pet fee.Let's say I have five single-family homes.

You can also take the profit first approach and make sure you are taking profit out of your real estate on a regular basis to do with as you'd like.

I am not sure I've ever seen where the tax writeoffs are different for STRs than they are for MTR's or LTR's in terms of writing losses off against your regular income.