I am not interested in dipping into my 401(k) or the money I have set aside for kids college savings. 

I didn't do my homework and didn't realize that the appliances were going to be trashed until after I closed, otherwise I would've negotiated better.  

We will be doing our homework over the next ski season to find what we believe is the best purchase, and then we will be looking to pull the trigger in the spring.  

As a kid, I would grab the local real estate listings wherever I was and look and dream BIG and tell myself that I want to be in real estate some day.

I understand kids are kids and accidents occur but also want to make sure I set a standard with the tenant that she needs to control her children.

There aren't many hotels/motels in the area, either, so I could also potentially make it a vacation rental for parents coming in to see their kids. 

I think that's a great idea not telling about a bonus, but my thinking was to get him motivated to hustle up, (kids nowadays) lol.

Personally, it's a means for some near-term tax-free (or reduced) cash-flow, in 15 years it will easily pay for my kids college, and be an income replacement in retirement or allow early retirement.  

Is it a house or a Multifamily. 1 unit, 2 units or ten units,  6 kids or 30 kids, is the sister turning 5 or 21.  

I had 2 kids quite young, before I was financially stable, but we made it work, I am the bread winner with a decent paying job, my wife's salary is just under half of what I earn, so if anything should happen to me I don’t want my kids and wife a battle in time financially.