I ended up offering on another 4 bdr turn-key property, and to your point, it was a feeding frenzy. 18 offers in 24 hours, with nearly half of them going $100K over ask.

We added value by re-doing the whole house, installed vinyl floorings, rebuilt 2 and a half bathrooms, re-painted the whole house, replaced all the hardware in the house, installed new lighting, ceiling fans, re-painted the kitchen, and completely remodeled the upstairs.

But if this happens a half dozen times what happens?  

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.

If they do not pay, you can send them to a collections company who will take half of any proceeds to colllect. 

He does have a couple half siblings, but they are in another country and not in frequent contact with his parents, so from their perspective all they would see is that the parents are living in an investment property that we own, and they are paying rent.  

Take my half hearted investment for what it is - I ultimately decided not to invest there but can see the merits.One more note from a guy that is financially independent.

adding a half bath, complete reno.What was the outcome?

However, if this total income number is negative it will count against you like any other liability would (think car loan or other mortgages with no rental income or credit card min monthly payments/etc) against your DTI.DTI is typically maxed out around 45-50%, so half of your monthly figure so if you make 10,000 gross per month your max liability at @50% DTI is 5000 a month max payment.

However, I can't find half of the owners.