This is clearly a result of market manipulation by the banks and I wonder how long they can keep it up.Here’s an excerpt:Market data show progress on housing overhang, but continued fragility in home prices and sales.

There is alot to cover and I'm sure it will end up in a mess for both of you as it's clear you have not been doing this long enough to gain the skills and knowledge to pull it off.....so my suggestion is to pull that option and get things set up first.

Thanks for the reply but I don't think I was clear on my question.

The thinking of those Sec 42 projects is that such projects are made available for low income clients only for a period of time and eventually the financing clears and the units can go to market rates and owned by the developer, so the financial incentive is also toward the end, 15 years out for example when the same unit may rent at 1,200 a month.

When it sells and all of the smoke clears, besides living in a place I have never dreamed of, we will have reduced the monthly budget by $300 per month.

You would want a pretty detailed operating agreement that clearly deals with management, accounting, and other equitable and legal rights of each member.

I still have some school loans to clear up and would like to do a few exterior projects and possibly update parts of the downstairs.

Hello Bp world....I currently own 8 properties free and clear in Orlando Fl.

I'm going to continue to look and learn more, clearly I'm not quite sure of all the things I need to be looking out for.

Your parents can just consider it as a second home and since it's free and clear there are no issues with interest on any mortgage.