Pick a type of property you can afford and think about making money through rent, the property's value going up, or both.

Will it rent for enough to support the mortgage, taxes, insurance and maintenance until he passes the property off to his heirs???

I also forgot to mention that Rent To Retirement Academy members get access to biweekly group coaching calls, our private Academy group, and biweekly presentations from industry experts. 

Pro-rate the rent and save yourself a lot of grief from an issue you would surely lose.

Also, what are you main reasons for looking to STF in Rockford, not knocking the area by any means but there is so much opportunity within the city limits where you're less likely to have extended vacancies.Short term rentals have taken a beating this year, while long term rentals have seen an uptick in what they can charge due to high home prices, and inflated interest rates.

You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.

An agent brought a property that would pay for itself and had the potential to increase rents and make non major improvements to increase rents.

Student housing can be a bit trickier as far as leases go, but typically, you would rent by the room and want the parents on the lease.

Terms negotiable.Why Shaker Heights Short answer: Purchased under 70% ARV-Reno, Duplex (two rents), desirable clean neighborhood, decent schools.

I don't want to deal with property managers, let alone tenants who will get on my nerves by failing to pay rent or demanding a new stove, refrigerator, window, HVAC and etc., and breaking the drywall and kitchen cabinets with sledgehammer if I evict them for non-payment of the rent.