Perhaps when the lease is up for renewal and the child is 18 years old you could then do a screening but it may not make sense to if he or she is good tenant at that point and continuing to share a room with the leaseholder.

It’s not cash flowing and you’d have to continue to dump money into it over time to make it work?  

Then the buyer would agree to let the tenants continue to live there granted they sign a lease and start paying the going monthly rent, which depending on the condition of the house could be about $2000 - $2400 a month.

Real Estate Goals:We are currently striving to continue buying real estate for passive income through the buy and hold strategy while my wife finishes her Army career over the next 9 years. 

What i accomplished in February:Started doing the maths on deals in my area and began to familiarise myself with various different aspects RE .Listened to 1 BP podcast a day in work continually learning.Went to the gym 3 day+ each week, (helps me with energy levels and concentration which has a positive knock-on effect on every area of my life)Where I fell shortCould have ran the numbers on more deals Plans for marchView more properties in my area to get a feel for the market.

Long story short, I paid off the loans with the lines of credit, which I continue to utilize over and over again for the same purposes I've spelled out for you.There are other methods and if you'd like to message me feel more than free to do so!

@Phil Wrigley : Sarasota can work as a VRBO style investment, but it will depend on where you purchase.

I'm looking forward to networking and continuing to learn from this community.My goal (obsession?)

This has continued for 3 months now and it is a fight every single Friday when he is supposed to pay rent.

The home is about 100 years old and plank style construction (no studs or insulation in exterior walls).It’s looking like all in this will run about $10,000.I was wondering if anyone has gone through a similar project and what the cost was.I’m located in North East PA.