My husband and I are wanting to get a multi-family and are thinking a great way to get my brother involved is the following: My brother would get an FHA loan for a triplex or 4-plex in FloridaI would put the 3.5% down payment as a co-borrowerMy brother and his fiancé would live in one of the units for a few years rent free so they can save money for a houseMy brother would manage the property by showing units, cleaning them when someone moves out, and as much maintenance as he can handle on his ownI would handle the finances paying the mortgage using the cash flow and keep the profits since my brother is living rent freeMy brother would move out eventually (2 or 3 years later) and we would refinance into a regular mortgage so that he can get another FHA loanWe would begin splitting all profits 50/50 once he moves outMy question is, has anyone reading this done this before?

I understand that some people need to break their lease early as life does change, but it still got me thinking as I have not had any issues with these tenants in terms of payment, maintenance, neighbor issues, etc. 

. -1000 to the resident manager-500 to maintenance guy-600 taxesOur issue right now is that the previous landlords let the tenants slide on rent sometimes.

Consensus was same rents with black and less maintenance costs and just look better over time.

Total expenses averaged $1055/mo last year (including repairs and maintenance).I not not sure how to analyze this rental unit.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

They usually get eaten up by maintenance, repairs, vacancies, etc. 

Hello all, What's usually covered under HOA and how would this affect your numbers when calculating maintenance and capEx when determining whether a potential property will cashflow? 

Have anyone experienced getting landlord insurance for a house with deferred maintenance? 

I have noticed in this forum that several posts state that you should not require or expect tenants in a rent to own/lease option to do any maintenance.