So it sounds like the two cousins have to split everything 50/50 unless they have some sort of partnership agreement in place?

My wife and I have been investigating developing a tiny home village in Central Texas.  

I own equity in two different syndications, one managed by Brian Burke's (Hands-off Investor) Praxis and another is managed by Robert Kiyosaki's (Rich Dad Poor Dad) property manager MC Companies. 

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

The house has been on the market two weeks and is sold with a earnest depost of 40%.

He told me he hasn't even seen two of the homes.Basically he owns their mortgage.

All units were vacant but I've already rented two and I live in one so I have only one more unit to rent I shopped around and I found a mortgage broker who was able to get me a 6.99% rate who took the loan to UWM (united wholesale mortgage).

I invest primarily in Detroit (12-doors there), but I'm also building an ADU here at my primary. 

I’ve had horse hair plaster in two old Victorians.

Knowing you can do it the right way now, I would advise against it.If you convert it into a legal rec room, that would only be a half bath and the City may require you to have two covered parking spots (like a permanent carport).