Choose your pressure washer nozzle wisely!

Family wise, we're pretty stable - family of 4 w/ 2 young boys (4 and 5) and typical monthly bills. 

What is your partner/cousin expecting regarding a return on his investment - both in a regular cash flow sense while you keep and operate the property as well as factoring in what he expects return wise on a sale or potential refi (not sure if this is a long term hold for you all or a shorter horizon type of arrangement). 

I think right now I am really interested in doing some fix and flips to get my feet wet in the process and turning them in to rentals if things don't work out budget wise.

@Brett Aguiar choose your tenants wisely.

We'd all be better off tax-wise leaving to our heirs of course.A renewable lease option is a cool idea i have tried.   

Structure wise I have typically found the deal and then put it under contract fronting earnest money & paying for inspections and then raised the remainder of the money.

In fact I believe we at the bottom of comparable homes price wise.

Investors were beating first time home buyers but once U moved up to homes that make zero sense to rent NUMBERS wise that changes back to a normal market.Where I see this in the reverse in is low value real estate markets were low value to me is anything at 150k and under.. they can flip flop go either way.. and investor dollars have propped up the market by purchasing what would have been 20 to 30 years ago homes that were only sold for owner occ purposes.. you pull investors out of some markets and they would revert to the mean. and what i mean by that is prices would crash hard.. as homeowners wont buy C D areas generally becasue of crime schools etc.. those values are propped up by rents and investors paying for a given cash flow.. and out of area investors especially.. what you think works  Say 1% rule or greater an out of area person may think .05 is just great.

So the question remains, is this a wise thing to do to purchase my first house?