We still have a parent/primary LLC in the state we live in that acts as a holding company for all the OOS LLCs.

Here is my current position:-I have a full-time job, making $80k/yr (single income, wife and three kids)-I bought my primary residence 1yr ago with 20% down (so minimal equity)-I partnered with my parents and bought the neighboring property that was split off my property and it currently has a renter in it    -this property cash-flows but not significantly due to the renter paying under market-value to the previous owner and she is a friend, takes care of our kids, etc, so we want to keep her there. 

So the benefit to your parents ends up being not actual savings but that the charity they love gets the money instead of the govt. 

This business has been my full-time career for 7yrs+ and even with that experience I would NEVER leverage the home of my parents or an elderly family member

This creepy middle age dude was the owner after his parents had passed and obviously wasn’t taking care of anything.

HI everyone one, so the COVID put a hold on my first real investment (I have a property where I live in S FL with tenants but this is the first out of state property)I am looking for any further details on these states - from the research I have done Cleveland and Memphis seem to be good places.Now with that in mind I was debating on going the turnkey route but most people I have spoken to say there is no real equity in those and you are buying at top dollar and you either need to ideally by a wholesale deal cash or work with a realtor but one that also has connections to contractors/builders/property management etc So any advice - the aim is to really be cash flowing every month as I need to increase my income so I am able to spend time with ageing parents. 

Here is a section of interest:For leases entered into on or after July 1, 2020, clause (i) shall apply only if the tenant agrees, in writing, to the termination, or if a provision of the lease allows the owner to terminate the lease if the owner, or their spouse, domestic partner, children, grandchildren, parents, or grandparents, unilaterally decides to occupy the residential real property.

Our portfolio grew very rapidly (sometimes it felt too fast) but luckily I have a good W2 & Army Retirement that has helped with holding/rehab costs.

My parents probably cannot cosign with me, so I don't know how to get a loan.

Our community does allow renters that are less than 55, so in the off months we will get families that come to visit their parents/grandparents.