Quote from @Aj Green: Hey,(Posting again as I sign today so it is urgent)Is there any cheaper lender than a 6.75% for an Ohio investment property.No brokers fees, 110k, no points, 760+ credit score, 20% down, 140k value, no realtors, single family, rent covers mortgage, 30 year term fixed.Thanks for the help!

I have a rental in Philly (Point Breeze area) that is not renting.

If you do it all above board, you would pay taxes on the rental income received and your daughter would be using post-tax dollars to pay rent which isn't the most efficient.

Mine one does about double what I would get for rent

The next part is to get a contractor(s) in the door to give you estimates on rehabbing the rest of the place to get it to rent out.

You are renting a home and not just a house.

I intend to get a single family residence, add an ADU, live myself in the residence and rent out the ADU as a studio apartment long term.I have checked my city's ADU laws and long term renting is permitted.Question : can I obtain the REP status while maintaining the ADU while it is in my primary residence?

As of this writing (7-19-2024), I have received no rent payments, but my appfolio does show rent being paid every month.

Might be a diamond on the rough if you can fix it up and then long-term rent.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.