@Chase Cline Another idea that I came across in the book "Real Estate Loopholes" by Kennedy and Sutton, says "if you hold real estate in a state with weak or non-existent charging order remedies, you may want to consider using two LLC's for protection."

They have been consistently late on payments (we’ve emailed them twice about it), they broke the lease regarding having extra dogs/cats and started a boarding business in our home which we informed them was not allowed as soon as we found out, as well as lacking in communication with them regarding things we needed to fix around the home.This is in California.We’ve just wanted to see what our next steps could/should be.

Finance payments are taken out of the rent so no credit checks necessary.

The real question is I have someone selling me a property at 350K with a 20K builders participation credit and I will be able to use my real estate license for help with the down payment, is this a good deal ?

I am looking to acquire 500k Short Term Rentals in PA and FL.I'm looking to be able to make the smallest down payment possible.

You could make your exact same argument for eliminating the bank payment from your cash flow statement.

Sorry for being so green.KevCan you afford the payments on a $250k line of credit?

(my house was underwater completely except for the crest of the roof) ALso, the city wasn't letting anyone back on the island (even owners) for like 14ish days (I forget the exact number), so ALL of the non-raised houses were full of mold by time anyone was allowed to go in and start doing things. 

If you have limited funds, owning non-cash flowing real estate can become a burden! 

Is the DIL considered to be "direct family," and if so, could the MIL gift her enough money for the down payment and closing costs?