I'm not in rentals now but I personally would shy away from the idea for these reasons:-Vacancy in the summer time-College kids partying and trashing your units-Potentially unstable income (Part time jobs coupled with full time school, borrowing money from parents to pay bills, etc).As I said, I am NOT in rentals so I cannot speak from experience.

My parents got divorced shortly after I was born but both of them rehabbed for the first 20 years of my life.

I spent a good bit of time yesterday putting together an application and lease, but was struggling with how to deal with the parent guarantor piece since I will likely end up with college students.  

Coincidentally I'm 15 and I can tell you from experience that it sometimes takes a while to figure out what are parents are really after.

At the same time, you don't owe it to anyone to compromise your property or the safety of other tenants while someone is still using.There's probably a reason why he's moving in with his sister, and not at his parents.

They were looking for a place that an aging parent or a kid in college can live next door but still have their own place.

My parents did that strategically during this last downturn: sell at the top, take the tax hit, hold the cash, buy at the bottom.That is what makes this decision tough, we may not know what the best option is until after we have done it.

Hi Amanda, I inherited a property in Patchogue that my parents had bought 20 years ago.

I first ran this comparison against one of my parents rentals where they have had the same renter for 5 years. 

For example Business Structure in my case- I have an S-Corporation that serves as the parent company, each new property is an LLC under the parent S-corp..again you will have to consult your CPA etc.