@Laura Alamery I appreciate the response. 

So he is very involved and is responsive to the phone calls or emails. 

I've lurked, followed and searched for the answers to my questions because it's my responsibility to do so before asking the board, right?

Your best option is to explain your situation in great detail and even then, your responses will be split as to which way you should go.One thing I will mention is that once you become a powerhouse with the number of units you have, you may have more leverage over the banks. 

The tenant would be responsible for rent for the entire lease term, or at least until we find another tenant if we choose to be nice (we always would). 

Hello @Dale Orcutt , I use Dan Ilie 901 -three36-35 5one He is very responsive

You may want to start with some of the smaller PM agencies, that way when you call you get the owner and are more likely to get a positive response.

Thank you for your quick response!

Option 1: One mortgage, both on it, you're coborrowers, no different in terms of responsibility/obligations/etc than an engaged couple buying together.Option 2: One mortgage, only one person on it, the other person can be property manager or whatever you work out once you own it.Option 3: One person on mortgage, both on title.

I will make sure the parents are aware if they co-sign they need to be responsible for the full rent, not just a third, just as each roommate is responsible for the full rent ultimately.