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There's potential here, but also drawbacks.

Obviously comes with some drawbacks, but as somebody with two dogs pet allowances are essential when we travel with the entire family. 

The drawbacks are double or triple data entry at times.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

On top of it, reaching 20% down through principal reduction and appreciation could be a decade out.So you should probably look at the project as a long-term partnership with you co-owning this with your sister for the foreseeable future.But these are great opportunities. 

The idea is to limit your targets to just a few with multiple nasty problems that your principals recognize are bigger than they can deal with, hence ripe for you to acquire or control. 

When you refi in a year, you can always put more down towards the principal if you want.

I know i can have my employees write contracts I dont personally write them. but we are also not doing this contract for compensation we are buying it as a principal just like you would be doing Mike for your students. 

I get that it's the equity you are getting in the house (you only can include the principal you are paying down) - but that feels as if it should be included as a part of your investment.