Worst advice (not really advice)- given to me by my mother when I was 24 buying my first house- “you have no business buying a house, you know nothing about owning a house” I made $45,000 on that house in 2.5 years.

I started getting interested in REI a few years ago when I noticed a ton of financial books in my mother's room.

She wanted her "fiance's" name removed so it would appear as though she was living as a single mother with $850 rent. 

Just listened to the one about planning for death a couple weeks ago and then yesterday my father calls me to get my opinion on a question he had.My parents are getting close 70 years in age and own 1 house under my mothers name, my father is a doctor so just in case he gets sued is not on the title.

Bought a duplex out of state for my mother - she covers the mortgage and all expenses while AirBnBing out the other side - I only bought it to subsidize her; pretend it doesn't exist.

It is located near a hospital to attract patients, medical students and traveling nurses and doctors.

You should definitely talk to a tax accountant like Chris said, but I am going to share how we (my mother and I have been doing this.)

I didn't get my BA, still had 6 units to go but I did meet my wife of 52 years there, so that made it all worth it.My two sons graduated from UC Berkeley and have jobs they like due to those degrees, and try as hard as I could, I couldn't interest them in real estate at all even though they were fully aware of what it can do for you by watching me and their uncle who had been involved in it since our teens.When my father died, his will said we kids had gotten our inheiritance from him and my late mother the first 30 years of of life and his money was going to the Shriners Childrens Hospital.

I couldn't find it in the link, but I did read that "family" for exemptions was considered in the first degree, husband, wife, mother, father, sister, brother, son, daughter, so uncle Ben or your third cousin Clyde is not exempt.

The house was willed to her by her mother who passed away over 4 years ago.