There are 92,000+ Fannie / Freddie homes at any given time in the pipeline (July 2011 stat) these homes have a 120 day turn time with a constant set coming in and leaving.

You don't leave yourself a lot of time for due diligence and all the other minutia that goes into closing a deal (considering 4 or 5 deals).

So, that leaves you with true cash flow of about $217 a month or $2602 a year.

When she leaves its coming out of the deposit.

Do you leave them without coverings, put blinds up or???

After the "buyer" gives up and leaves they do it over again with a new buyer.

This would help subsidize the lease payment without taking on too much risk should the son/daughter decide to leave school.I live in a college town and I see examples where parents bought their kids "a place to live" near campus and it almost always ends up biting them in the ***.Most of the near campus properties are older and require a lot of maintenance.

As an out of state investor wanting someone with skin in the game to care about the property, some kind of partnership comes to mind.Know a young guy, who is the son of a friend, who is buying property in a southern area that is conducive to cash flow.Understanding how one person that carries all the burden could feel like they are getting the short end of the deal, I wonder what kind of arrangement would be fair where one lives in the area, finds property and keeps track of it, while the other investor is out of town too busy to be involved.I have more capital and credit than does my young friend so my contribution would lean more towards the capital side but that makes the partnership lopsided.

I will receive a housing allowance (BAH) roughly equivalent to [a conservative] $15-20k/year that can either go to rent, base housing or a house purchase.Next, my plan, 30,000-foot view: I want to purchase and live in a house under the pretense that it will become a rental property (by necessity, within a military community) when it's time to leave.

It also gives me an opportunity to get to know the tenants so we have a good foundation / understanding for when they leave (They will all leave at some point and the property will require some rehab in order to market it for new renters or a buyer.Good luck!