Surprisingly when the house was (re)wired in the 1950s, fuse panels were put into each quadrant of each floor of the main house (essentially each room) and the rooms were wired to the local panel rather than trying to pull wiring back to the mechanical room in the basement.The last remaining descendants, who themselves are getting on - live quite some distance away, and have been maintaining the house since their parents have passed away {I'm told the property has/had its own trust fund}, but now want to be rid of the burden.I could turn it into six nice apartments - but unless I destroyed the character of the building in the process, the current operating costs {10K/year to heat) would make it un-viable.

Our originator did say that if were to have had any child care deductions on our 2014 taxes the VA might not have accepted that ratio.

They are both living at home with their parents currently.

Do I call their parents as a reference?

Another caveat with these older buildings that have been owned by "frugal" landlords is that sometimes you'll find "upgrades" that were done by a tenant or in-law or the landlord himself whose last construction experience was assembling his child's easy bake oven.

Also, I am currently living in Michigan and I will be purchasing the property in Philadelphia, my parents who currently live in Philly will be responsible for managing the property.

Since I was a young child i have always been a natrual entreprener.

I am teaming up with my parents on my first deal.

Should I be the only member or should I have my (under 18) child be a small percentage member?

Talk to your title company to find out what they need.Be mindful of transferring the property to a child or heir.