Hi Bigger Pockets family,My question is related to the mortgage interest deduction.

My mother in law wants to buy a new house, i own 2 SFRs and would love to possibly partner with my in-laws (we have good relationship lol) with their old house to rent it out, and split the profit. or somehow get this property from them and keep the profits to just me, but i'm looking for a win-win. they are interested in going in on the deal.key issues: In-laws don't want to pay two mortgages.

My mother in law wants to buy a new house, i own 2 SFRs and would love to possibly partner with my in-laws (we have good relationship lol) with their old house to rent it out, and split the profit. or somehow get this property from them and keep the profits to just me, but i'm looking for a win-win. they are interested in going in on the deal.key issues: In-laws don't want to pay two mortgages.

So far the only suggestion I have for myself is build my credit and maybe by this time next year I’ll have a good enough score to get a down payment on my first mortgage.

I’ve got about $25k cash, $60k in credit lines, good contracting and industry experience (did multi-family portfolio management for a while) and no job (so no mortgage opportunities).For you MN folks, what’s the bottom of the “crappy but not tear-down” bad?

My gain will be about 250K.I own a few other investment properties including duplexes and houses that all have mortgages. 

I own a nice home and pay a mortgage every month.

They are not complaining at this point about having to make a mortgage payment and pay rent to me, so perhaps I am more uncomfortable than they are, but how do other landlords deal with this risk, or does it just come with the territory?

I think it is related to the high property taxes, high cost of living in NJ in general, the new SALT law and creeping mortgage interest rates...those who don't buy with big profit margins built in will be challenged to make money when they exit the deal. 

Because rents went down, and have not come back up to 2007 levels, my rents fully occupied match almost exactly with my mortgage payments.