Bottomline you’re buying the house/condo, but don’t own the land.

My mother-in-law is managing the state and doing some projects to get the house in better shape before going to the market.My husband and I would like to purchase the home as an investment property (rental); my mother-in-law stated that she would "discount" her part of the purchase, which means we would only pay 66% of the original price.I am trying to think of alternatives to borrowing the money.

Then tell them you are going to have to get a mortgage and it's going to take a while, see if they will rent you the house.

What you don't want to do is tell someone the house is theirs and then tell everybody else its rented.

@Sandeep Shukla how much time do you have to manage AND learn:1) Fair Housing laws2) Fair Credit Reporting Act3) Consumer Privacy Protection laws4) Local rental ordinances5) State eviction laws and procedures6) Etc...Everyone thinks property management is easy until something goes wrong...

I could not have normally afforded to buy in this neighborhood without purchasing a distressed property.My plan was to house hack one room for a year.

I bought a house in Dallas for short-term rental.

Understood - so say I sell house in Sep-24; then I can adjust my remaining paychecks to catch up to 110% of 2023 tax to avoid tax penalty or I need to start having higher withholdings now?

I’m buying a house and assuming a VA loan for it from a veteran.

I am correct to understand that renting out rooms in my house doesn't effect my eligibility for the exclusion?