They knew they were in violation and did not care.

Wouldn't invite them in the house (just because that would be weird) but am happy to get rent on time via mailbox dropoff/in person at my house or carrier pigeon...as long as I'm not chasing them around and don't have to pester them for rent, who cares!?!? 

What are your lawn care costs or are the tenants responsible?

And you want to be careful about your intent when buying and selling to make sure you'll qualify.

Hi FolksI got my CA real estate agent license a couple of years ago & currently hang my license with a local broker. Going forward, I don't intend on being an active agent buying & selling homes, so my questio...

If you can withstand 20k into each unit, and 100% vacancy over 12 months roll up, knock yourself out, otherwise I'd tread carefully.

You are in the position where I think I will excel once I have a handle on the business... having a variety of rehab project under my care and having teams working away on them. 

But I'd like to run the numbers in the scenario as I move out after 2 years living there to check the cashflow- Financing: owner occupied conventional loan - Downpayment: 5% - Interest rate: 4% - Loan period: 30 years (fixed) - Vacancy of 5%, Repairs of 5%, Capex of 5%, and PM of 10% - I assume I can get 10% discount based on how long it's been on the market (purchase price of $719,100) - I used Realtor.com from the link and based on purchase price of $719,100 it gives me prop tax of $749- I relied on the listing agent data of $92 per month for home insurance - I relied on the listing agent data of $112.50 per month for water, $112.50 for sewage, $95 for garbage, and $60 for lawn care (assuming the tenants pay for their own electricity and gas) - I left PMI to be 0 since I do not know how to calculate this Result: Based on assumptions and MLS listing, this property cashflow -$1,280.00 (aka, a horrible investment).

But, after having taken care of that immediate concern, it'd be even greater to then be able to get a regular 80% LTV cash out refi (after whatever seasoning time is required) on the very same property, because that would allow them to include the equity they've added, whereas that added equity (added via performing the rehab) is apparently not able to be included in the Delayed Financing's LTV.

While you would be a disqualified party to your mother-in-law's IRA, she is not disqualified to your IRA.That said, you would want to be very careful in having your IRA deal with the company, and any transactions should be at normal market rates.IRS rules prohibit any direct or indirect benefit between an IRA and a disqualified party.