We are more traditional investors who just love working together along with our 4 kids in the business.

You could easily rent by the room to college kids.

Because of the layout of the existing walls, and the routing of existing plumbing, ducts & electric, I knew it would be a fairly simple and inexpensive operation (again--I only knew this because I visited the property)...after the work was done, it transformed the place from a negative cashflow property (that mostly only appealed to college kids) into a cashflow positive property that appeals to couples, couples with a child, well-off single people, and pairs of housemates.The "physical assessment" and the ability to see the potential of a property is a skill that can't be easily learned via books, youtube videos, etc.

More than likely the entire price will be used up paying for the care of the owner and the kids will get nothing.

That's fine if you want people to treat you like an old college kid when you want to borrow money.5.

Are you kidding me – Have you looked at the last 50-60 years-that is way too low and makes it much more affordable. 3.

Do your homework, find out what you want to accomplish with purchasing and see what fits in with your goals the best.

Kids.

@Jean Bolger you're not kidding!

Because the loan was FHA, the lender was a little nervous I did my homework with comps as it had to meet appraisal and we offered $40K above list price.