A lot of people are not good with money, plain and simple, and a lot of times those people are our children, siblings, or parents.

Purchase price: $167,000 Cash invested: $25,000 Contributors: Michael Sgandurra This was a value-add BRRRR deal next to Nationwide Children's Hospital. 5-bed rooms and 1.5 baths.

House hacking is out of the question, I have two young children and a wife who will truly think I have lost my mind if I suggest we move and / or rent out a portion of our house.

We moved to west Michigan 5 years ago with our 4 children and absolutely love it here. 

The biggest thing I have encountered in numerous inspections is chipped or flaking paint in pre-1978 homes that have children living in them.

My tenant, a single Mom, had rented my rental for almost 2 years with her son and couple of grand children.

Highly recommend, and we didn’t see any camps of homeless people or anything like that (I’m sure they were there but nothing that stood out or put a damper on our visit even with young children, walking everywhere) and we stayed in Oceanside which is a lot nicer than it used to be from my memory.   

Just like raising children, rental properties do best when watched closely. 

We've lived in over 10 homes while raising our 3 children that we improved and sold.

Our children are at $100 and $63/month passive income on the homes that will eventually be their first rental properties!