I also thought Joe was kidding  but it is not bad advise.

@Mike HenkelCongrats on your successWhen you mention student housing, did you buy the types of houses that kids are partying in heavy or the "better" kids that are doing there homework instead of getting into trouble?

I once bought a house that a ex-WWF professional wrestler owned to whom I was a huge fan as a kid.  

I'm pretty well-off, so if I want to give an older disabled lady a break on a month's rent before she has to leave the home she's lived in for 21 years, it's not really creating any danger that my kids will go without food or college tuition or tickets to Star Wars or anything.I'm really just trying to be cautious and see if there is any legal ramification I'm not considering that makes it a bad idea to give them a 1-month lease.

Gee, kids, could there be a connection?

We will keep them and pass onto our kids...orSell one a year starting at 65 for 100k (todays value) and have a great retirement.

Now I'm competing for real estate with guys who made their first deals as kids on ebay!

We've decided for now our main focus will be on flips, as 4 kids 8 and under keeps us busy and not a ton of time to deal with rentals.

Not too serious, she and her kids keep the house clean and haven't caused any damage, but her payments are almost always late.  

Tenants tned to stay put once the kids are in school.