If your college-aged child wanted to do personal RE investing full time, how would you advise them early in their career?

Also if you are doing flipping, in which case I suggest you look into Series-LLC and you operate each flip in its own child-series (if not clear why, ask for more details).I spent numerous hours researching from multiple sources the whole LLC question and asset protection matter and all the rabbit holes it opens.

My income is $140k gross (software engineer), my wife currently stays at home with our child, but could go bring in $30k-$40k if needed.My question is if we put the $150k down (with $100k via a HELOC), rent out the back, and do some airbnb ($100-$150 in the area) with the extra rooms in the main house.   

I have a child going on 2 years old and feel like I am missing out on a lot of moments due to working in my current profession.

The police have contacted her mother who drove through the night to get here from out of state to pick up my tenant's 9 year old child. 

However I know of a property that might help, please give me your honest Opinion.In my home town there is a house that has sat empty since I was a child (15 years so far). 

It seems they sensationalize the pits being the bad guys on  the news if a child is hurt..

I do not want more than 4 in this unit, but would not be surprised at all if more family moved in or they had another child. 

Assign individual properties to each child.

What process does a parent have to go through to have a adult child leave if the person refuses to leave?