You are missing my point on taxes.Scenario 1:  Your partner buys the house at the same time you put your cash in.  

Find out what rate rents are increasing and expenses are increasing in your area and use that in your underwriting, then work out each year of ownership. 5% rate in 5 years seems ambitious.

He was a former professor and has online courses that are good to have.

@Sarah Hadassah Negrón so you get a money judgment.Now you have to turn that into a garnishment action with the courts.To do that, you typcially need to have the tenant personally served - which means finding them or hiring a skip-tracer to do so.Then, what are you going to garnish?

You are missing a massive audience by not going on the Mls.

Swann is a large company and are likely easy to find at Best Buy, etc.

I joke that he's the unofficial Mayor of Springfield based on all of the social and charitable activities that he does there.

Evictions are an excellent way to take a decent investment and make it a nightmare. 

I dont get it.And are you saying that there are loan officers that look for people who seek innovative strategies that may differ from the tried and true, and when they find them, are more likely to offer this scammy rate?

@Mickael Castillo Are they current on the taxes?