For example, a partner might be your parents to help you out with that downpayment and on a place like this I could see a 5% downpayment loan still cash-flowing well.

It varies greatly  My parents live in a huge & beautiful home in the ‘Shelby Forest’ area (SF backs up to Meeman-Shelby State Park & there are many homes in Shelby Forest’s extended area up the bluff towards Tipton County that are close to million dollar homes).  

@Tyler LabradorMy parents (and pretty much society as a whole) always told me to go to school, study hard, keep “quality” company, get a good corporate job, save in a 401k, find the love of a good, honest woman (or man) and marry them, buy a house large enough to grow a family, and have lots of children (after all, they come with tax deductions).

Do I need to have the 17 year old's parents or legal guardian cosign?

As I'm entering this amazingly sophisticated, yet simple journey of REI, the best strategy I've come up with my lender is the following: refinance my parent's primary home (will get about 100k back), fix it up with some of the refi money (rough estimate of about 30k, but I've never rehabbed before so its a really rough estimate), Rent out the primary SFR, use the rest on a downpayment for another home that I would like to BRRRR and place my family (we are 4) in a multifamily house with separate units (with one other family member in another unit).

Owners were wealthy Germans who built the property in 1994, the last parent passed away recently, and the kids inherited the property.

I eventually started using my parents' financial advisor and he's been getting me 7-12% on average. 

The money that I did make from that sale went right back to my parents to pay off money they had let me borrow as well as paying off some credit card debt. 

Not sure how I feel about that since it is the house of my parents and I grew up there.So best case is I have a free and clear property in Roseville Michigan just about 6 miles north of Detroit that the value should be about 70k. 

All phone numbers are dead ends and parents are dead.