Hope to connect with you in person sometime.Cheers!

Please let me know if you would like to meet-up in person and I can help process some options for you. 

The person I spoke to didn’t want to give me her husband’s name who is on the lease because they’re getting divorced.  2. lived in a duplex that changed ownership, I called them and sent a verification form over.

In our previous example of $4k net monthly income the disbursement would be as follows: $4,000 Net income$1388 principal loan repayment to majority partner $1305 (50% of $2612) to majority partner$652 (25% of $1305) to each minority partnerAs your parents, they might not require or care about the same rate of return, or a return at all (except the equity position) especially if they're planning on utilizing the property for personal time.

If they owed $200k they’d still have to personally buy at least $500k.

Hi Kenny-Great question about whether you should put a house you plan to live in and rent out parts to others in an LLC.Certainly putting it in an LLC would help with asset protection and limiting personal liability.However, you may lose the ability to claim the part of the house you live in as homesteaded tax rather than the higher non-homestead investment property tax for the entire property in an LLC.

Some lenders (depending on the number of units) will even require two appraisals..paid whether the loan closes or not.- Reserves.

Asset Protection:While owning properties in your own names may have tax advantages, it does expose you to personal liability.

I finally paid a guy $2K to empty it and clean it up a bit and sold it through a wholesaler for $10000 to a young, big-talking investor from out-of-town who was positive that all he needed was some basic repairs (that he confidently told me he knew all about).To date, that property is still under renovation.

He is not in a position to begin lending money for several reasons.I assume the HELOC was made against his personal residence.