@Sara Mickelson I vote on hanging on to quality as you propose and I would not encumber them to buy low quality.

Prepare the offer: Draft a written offer that includes the purchase price, contingencies (such as inspections and financing), earnest money deposit, and proposed closing date.5.

Just make sure that what they are proposing makes sense to you.     

The simple answer is to get a couple of true commercial agents out to your place and give you a proposal.

What you are proposing does not sound in the best interest of your parents.

What are the MARKET rents (not STR) ` what is sales price `will it appraise with a residential appraisal for that sales price `what is the condition of the property `is tenant in place     are a few of the questions to give you an accurate answer.BEFORE you do this have a lender licensed in the state where your proposed purchase sits go through all the income numbers and options.

The biggest problem we find with mortgage lenders is that they usually don't propose good conditions with refinancing - usually they require us to hold the property for about 3 years.So a question to all: 1. is there anyone whom has a good referal for financing for us? 

However having stated this I believe @Justin R. has done what you propose.  

i appreciate the response ...nothing illegal is being done, i just know that there are so many tax deductions, write offs, and breaks that one could use....money earned is hard to keep if you dont have any major write offs or deductions...here's my scenario and why i was contemplating offshore. i am in the process of forming either an llc or s-corp, i was told that those might be the best options for just 2 50/50 partnes in real estate. the next shelter that was proposed was to creat trusts in which we are managers and be paid our salaries thru the trusts. maybe someone can help, if i get a 750k paycheck next week, i dont have any kids, what is the best way to keep most of it????

Account Closed There has been several plans proposed and speculated about involving the City of East Cleveland's annexation into Cleveland, Cleveland Heights, or some combination of the two based on geography.