This, in combination with @Jaysen Medhurst's excellent point (taking 10 - 15 yr loans is not the best idea, no buffer to fall on) makes me re-think the plan in a different way...I'm thinking what I probably need to do is:- Start with value-add investments in Class B multi-families on 30-yr notes asap- Goal is to move up to $1MM+ properties, to utilize cashflow for college education & retirement in 8 - 10 yrs, just as the kids are hitting college ageFallback is, of course, to use student loans in case of any bottle necks that are faced.

Combined with the mortgage payment this is over $1,544/mo.

we call it Snottzdale :)  ,concur with Julie on capital due to being Snottzdale,  that's one of the most popular areas that are combined residential and touristy

Based on a combined 25% combined Federal & State tax rate you're looking at another 2,500/ year in tax savings. 

@Victor Nkhoma Would approach them with a solid contractor and agent combination at the least.

If your parents have $200K liquid now they could actually combine that with your proceeds and you could purchase the replacement property with no mortgage (their cash replaces the debt). 

A Couple bought the house for $160,000 in 1999.They have a second mortgage it for a total of $227,000 combined first and second mortgage.

(It's gets a little technical, but that combination doesn't work.)2.

A Couple bought the house for $160,000 in 1999.They have a second mortgage it for a total of $227,000 combined first and second mortgage.

Hello reader,I’m 21 working at Northrup Grumman in California and I’m closing in on $30k saved from employment and stocks combined.