Fair Housing law requires you accept the child, whether naturally born or adopted.

@Immanuel Pierre one thing I have seen people do successfully is to use one of the current tenants as the "house parent" and reducing their rent a bit for the added headache.

The author of most of the bills was evicted when he was in high school and the president of the senate was also evicted when she was a child.

Without that you can be sued personally for any issue within it on your str.Its much harder for people to pierce the corporate vail and sue you personally if your property is owned and managed in a LLC .Financing is one of the only drawbacks as it is a commercial process and banks usually like to see 3 years of a decent tax return.We have 19 properties and all are in an LLC and in fact we only hold 2-4 properties in each LLC (all are owned by one parent company and done in one flow through parent company)to even further shield the liability that may/can occur on a property.There is no doubt you are exposed to higher risk on many fronts if an investment property is held personally.

Let's talk about markets first:I grew up in upstate NY and my parents still live and there are a few things that are true of both this market and Detroit:No one wants to live there.

Living with parents in Chicago suburbs but moving to Lakeview East (North side Chicago) next month to get a feel for living in the city.

They are willing to offer their parents as co-signers.

A rich parent or sibling that believes in your RE vision. 

As a result, I'm finding it incredibly challenging to establish credit or secure traditional sources of income.Currently, my kids and I are living with my parents in Sigourney, having moved there last June.

Monthly Rent + Monthly Debt Payments <= GROSS Monthly Income * 45%This accounts for some people who have outsized obligations such as car payments, child support, credit cards, student loans etc.