I have elderly parents who own a multi family just north of Boston.

I currently live at home with my parents and am not in rush to move out so I was thinking of waiting to house back until I am ready to move out.

I pay one of my parents cash for room and board, I do not have student loans, have been driving the same car (has been listed under one of my parents since I was 16) and I am saving for my first househack.I am starting to prepare my financials to show a lender and hopefully get some answers this week regarding pre qualification, but decided to run my DTI calculation today just out of curiosity.

We bought it for a great price from the kids after their parents (our friends) both passed within 6 months of each other.We do have a larger home, (circa 1952) that had all the same issues but after years of renting we sold it & held the note.

Details here:Value: $215-220kOwed: $110K At 4.375% interestRepairs and upgrades already done: $13KRepairs to be done if renting: $12KIf I sell the house now, I’d end up with $85-90K cash, move in to my parent’s house until I find a larger home to buy for myself.

They provide child-care for working parents, fuel spending at retailers, and fund businesses that provide food for cafeterias and dispose of the garbage they create.

The other option I have is to get a co-signer, but both my parents are in so much debt and bad credit scores that the lenders would never approve them and I don’t have anyone else that I could ask to put a property on their debt-to-income ratio/credit report.

Has anyone done some creative financing that mutually benefits both parent and child?  

Hello All,My parents are currently working through their first 1031 exchange and have run into a brick wall of 4-plex or less.  

I would speak casually with them about their school schedule, use for the home, how they were planning payment, etc.I would also speak with the parents and I would say I found better results when I had one or more of the parents sign as well.