This will be an out of state investment for myself. 

This thing has major reno needed including fire damage mitigation.

Is this only useful for W2 income?

This is truly a fantastic place to connect, learn, and continue growing your real estate knowledge and network.Keep up the momentum, and feel free to reach out if you ever want to share more about your journey or need advice.

I understanding is the TN has some crazy rules and regulations that complicate this process. 

In short I want to know ways that you have made deals like this work and/or any creative solutions for keeping a tenant in place. 

How are SF landlords managing this situation?

This perspective goes beyond merely buying and selling properties; it involves a strategic approach to wealth building and risk management.

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

in 12-18 months and do this again with larger multifamily.Details below.