Shorter term, it will bring in workers to construct and create this new development - Longer term, it will bring in the likes of famous celebrities from around the country (if not world) to live and stay here short to long term. 

SCENARIO 2):1) Parents buy the home and we live in it.Q1) Is there a way to make this work?

Again, the issues here would be if those properties were structured incorrectly or filed incorrectly....but I think it would certainly be worth having a conversation with a different lender about it.

Anyone remember the podcast from a couple of years ago where the guest talked about how he goes about raising rents when he inherits tenants who are paying well below market valueHe talked about making up a folder of his expenses as well rental comps and meeting with the tenants and having a two-way conversation about where to set the rent. 

He's a regular guy who worked hard, lived below his means, and invested as much as he could in buying property.

Assume for the sake of this conversation that all of my other finances are in order.

I currently live in my primary residence (2nd SFH).

It costs about $300-400 depending on where you live and it saves a lot of problems. 

Currently, I'm earning a living by driving part-time to pay the bills, but real estate is the profession I'm truly passionate about.

I bought a house and have three roommates living with me.