@Curtis Bidwell does it make any difference if the property is rent controlled?

All rented and have been since I have owned them.I am getting a great deal on my first commercial piece of rental property... from my parents.

The property had lots of water damage, plumbing issues, mold, the landscaping was out of control.

Loose the battle to win the war and all that fun stuff but we also need to be somewhat in control.

They are typically family, friends, neighbors, Doctor, attorney, CPA, other parents from your kids school, etc. etc. etc.My question to you is, why would you want to give up a high % of the profits when you can simply pay 9% or 10% straight interest?

There are safe ways of obtaining control of properties or interests in title with no or very little money, but to do them correctly requires greater skills and education. 

This is not in a rent controlled area or property.  

While this is true I would like to think that I have some of it under control, lol.

My parents Want to get a Loan for land. it is under 50k but despite my father having decent credit( they require over 700 for all 3 scores and 1 of his is over 700 while the others are high 600's) they denied him the loan.

They're working parents, and noise and partying are never a problem.