It also doesn't leave a lot of room for error.Now, I understand that Vacancy and Capex/Maintenance are not true monthly costs, but a $1,000 water heater in Year 3 is what I'm planning for, right?

Looking through some duplex opportunities in Tampa, Fl and found one that meets the 1% rule and has room for forced appreciation...big downside at this point is that it’s Wood Fame instead of Concrete Block.

And it added 8 grand to the job .  

It's sad, because the parents mean it as a grand and generous gesture, but it can cost the recipient tens of thousands in taxes that could have easily been avoided.I hope you have spoken to a tax professional about the specifics of your situation to make sure you know the tax consequences of this action.

Andrew Major - Why not buy a too big house, rent your spare cheaply furnished bedrooms by the bedroom on a 6-12 mo lease, rent out your room during your deployment and watch the cash flow in?

Great living room, 2 decent size bedrooms and a nice big bathroom.

There are more resorts here than anywhere, golfing galore, great weather (most of the year) low taxes, a big hole in the ground called The Grand Canyon, skiing, (yes an 11,000 ft mountain for skiing) we have more peaks than Colorado I'm told, great hiking both in the desert and in the mountains, exquisite restaurants, nice people, good roads, lots of activities, and we are only hours away from the ocean.

This apartment was state of the art when it was built - grand staircase, elevator, like a brownstone; even the street was upscale (Park Avenue).

Have the first seller and end buyer schedule closing at same time but different rooms.

The lot is about 5000 sq ft and there is a SFH on it (occupies about 1000 sq ft).He wants to extend the SFH to 5000 sq ft total (about 10 rooms) and turn it into assisted housing.