Income taxes are always paid on profits, not revenue (i.e. rents).  

You got paid once.

Looks like a real family effort and all the work paid off. that's how to do it! 

You will be sacrificing getting on with your real estate experience and holdings, but would be doing a good thing for aging parents and will have a good asset paid down and ready when you are both ready for other living arrangements.  

@Dalton Beauregard,Well, you need to be able to keep you bills paid.

I have not paid for facebook ads yet either.

He was a bit of a hero as the landlord was getting good rent paid every month, the artists had a good cheap space to live and work and he was paying zero rent. 

He also paid for the rehab.The plan was to rehab it buy it with traditional financing and rent it on Airbnb.This was my very first deal.

@Ryan Mullin and I are loving the price we paid for our house in Herron Morton 6 years ago!!! 

I am pre-approved and $600K would be the maximum for my mortgage.