If they are professional, they can explain this quickly and easily.

Yours would likely attract large families while the neighbors would be small families, singles, or couples with no kids.It doesn't sound attractive to me but everything is a good investment if the price is right!

Agreed, And when I ran it over a 3 year projection and figured worse case scenario that I turned over a Tennant each year it made the deal a lot less attractive. 

Indeed, yeah I'm quickly finding that out especially just seeing how quickly the good deals go under contract. 

Anyway, we realized pretty quick that four people in a two bedroom apartment was going to lead to someones horrific death. 

When the time comes, dispose of the stuff, either through a local trash pickup or a dump run with your utility trailer.The main thing is to assert your possession of the house as quickly as possible and come through for the next of kin.

If they are professional, they can explain this quickly and easily.

@Connor Burke just based on my quick look 1) all I can see is the outside pic you posted in the calculator, but based on the age of the house from that pic and the description mentioning needing a "little TLC" $8k may be low for repairs, 2) if it were me I'd up the vacancy to at least 8% since 8.33% each month would give you a month's rent set aside each year (1/12), 3) again, I don't know the age/condition of the house but my guess would be 7% CapX is a bit low, I'd up it to 10%.Not being familiar with the area, I won't comment on the assumed ARV, rent, water/sewer, or property taxes you used.

So it is indeed more complex that I had thought.That being said, my original idea of establishing a general partnership as a estate planning method is not that attractive anymore.

Because it will be difficult to attract accredited investors without a track record.