Boy, I'd like to meet your wife

Here in Texas eviction rates are less than 1%.

I didn't pursue because the real estate market was good and rates were at an all time low.

Just curious what that market is like and if this is good idea for the area and what rates are like.

What is your interest rate?

Here is a great place to meet other investors like yourselves - https://www.oreio.org/ Not quite sure if once you acquire that property if your intent is to manage it as well for some insight into property management give us a call https://peartreegroup.ca/. 

A subject too loan generally had a higher interest rate than the prevailing rate (not all, but that was the general direction of the market). 

It would be rental property to my parents and I would pay a 60% market rental rate and I would also pay the loan.

Recently several of my investor clients have leveraged equity in their primary or investment properties as down payments for purchase acquisitions by obtaining a HELOC or fixed rate second mortgage. 

Going to meet with a CPA but any input would be appreciated, thank you!