It is very common for the typical bank mortgage person to make this mistake. 

When you're ready to rent, consider refinancing to eliminate PMI and potentially lower your rate once you've gained at least 20% equity.

Really expedites the time it takes to reach FI when you can completely eliminate your housing payment and get into multis for such little down and start building equity/cash flow with each one.

I've heard Trump most signed an executive order to eliminate reduced rates for section 8.

Eliminate debt, establish a budget, and save.

What is the standard process from start to finish so we can eliminate as much risk as possible?

This California law eliminates much of the red tape by bypassing environmental reviews and subjective local approvals, creating a faster and more predictable development process.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.

Make no mistake, shifting a "big war chest" from liquid investments and cash into a cash flowing real estate portfolio is not a passive endeavor.