@Tou V.If it was t your friend, it doesn’t matter the prior price years ago.

I live in California and am referring to a benefit we had from obtaining a continuance of my dad's property taxes.

The issue I'm discovering now is that, when I go to apply for a mortgage once I have completed this live in Reno, my debt to income ration will be too high.The solution I was planning to do is to add myself to the title of her home as joint tenancy and rent it out, at which point, I could claim 75% of the rental income towards offsetting my debt to income ratio, which would likely qualify me to obtain another home loan for another personal residence for my family to call our actual home.Does this seem like a sound solution or am I missing something?

The process @Chris T. is referring to is creating a "disregarded entity" - an LLC that chooses to be taxed as a sole proprietor. 

I do the work, obtain the loans in my name and we split the profits. 

My goal is to obtain 1 rental property every year and would love for anyones opinions on the best areas to buy.

In 90 - 120 days business owners can obtain $100k to $250k in unsecured business lines of credit themselves.Follow these simple steps:1) Establish a strong internet presence for your company by listing it on at least 15 sites-- Facebook, LinkedIn, Twitter, Scoop It, Bing, Manta, 411, Google+, Google Places, etc.2) Establish a business checking account at 2 banks (with a 700 credit each will offer a business credit card.3) Make regular deposits into your business checking account for 90 days to establish a favorable bank rating.4) Add higher level trade references to Dun and Bradstreet to provide depth to your Paydex Score (net 30s are usually lower amounts; you'll need higher approvals from your trade references-- 2k to 4k).5) Upload your company financials to Dun and Bradstreet to complete your file and create a strong credit profile.6) After 90 days apply for unsecured lines of credit.

For a 4-plex the basic calculation is that your total housing payment (P+I+T+I+HOA+MI) must be greater than 75% of the gross rent.

@Mason Haley if you are looking for 50+ unit deals, CoStar and Yardi Matrix has owner information.I bought a 1,000 unit apartment deal using a combo of DM, calling and emailing the seller and I obtained owner info from Yardi.

You need to network with other investors and gauge how difficult it is to obtain a multifamily versus a Single Family Residence (SFR).