Also know that the housing market might not go up as quickly as you like...but honestly as long as it cash flows when you move out that is okay...I recommend saving up at least 6 months' worth of rents and having it cash flow at least $300 a month before moving out of the property.

It could also be worthless if they are only doing long term rentals since its all passive income...

As teachers part of our philosophy of education is that while we are the teacher to our students we always take our place as students first learning from our students and anyone willing to share new knowledge — we don’t know what we don’t know so we remain curious, hungry as life long learners.

You need to consider how long you will be keeping this property.

We are moving to another home that we have renovated, and will be renting out our primary residence on a long-term lease.

You can use personal accounts for both rent and deposits, as long as they are kept separate from your parents' other finances.

If you're not yet aware of this niche strategy whereby you can leverage your real estate assets (single family, multifamily, hotels, etc.) to generate significant long term cashflow, this is the podcast to watch. 

@Adam WalkerIf your strategy is buy and hold long term and you can afford the payments right now then I would say continue to hold.

I think splitting the profits is fine as long as your partner has worked out how much the labor will cost.

My intent is to convert my primary into a long term rental.