Do you already own any properties, or are you just getting started and looking to purchase your first one?

What's the location, purchase price, expected Reno cost, ARV, etc.?  

None of these strategies are new, all existed when I purchased by first investment but none were as popular as they are today.

The larger the purchase price the greater the spread you need between purchase price plus holding costs plus rehab cost and ARV.  40k projected profit on a 600k project is too skinny for me. 

I have seen loan products that will let you purchase a mixed use property to live in the residential unit, but that is a specific product and you should consult and expert to see the best option for you and your cash on hand.  

Most get cornered into purchasing specific property types because its what their resources allow.

Congrats in advance on your purchase :)

@Allan Guerra, at least in Ohio, you cannot receive a commission based on the purchase price of a property without being a licensed real estate agent.  

I purchased the property roughly 5 years ago.

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.