She's entertaining a $170K option purchase offer.She's willing to enter into separate master lease with sublet rights for $600/month.The property seriously needs cleaned up and could use a coat of paint on the exterior, but is otherwise in halfway decent shape and very structurally sound.After cleanup and residential rents, FMV should be $220K.

20 Unit Brick Apartment, Pitched Roof (new x 5 years) Separate metered utilities (owner pays none)All electric central air/heatNo Vacancy, waiting list to get inDebt service: Asking 750,000 Get for 680,000680,000 at 10% down 7.75% 30yearYear:2007Scheduled Gross Income:$125,400 Vacancy: $3,000 (never know) Effective Gross Income:$122,400 Maintenance: $8,000 Taxes: $2,809 Insurance: $8,000 Management/Grounds/Misc: $18,502 Total Expenses: $37,311 Net Operating Income: $85,099 Debt Service: $53,573 Pre-Tax Cash Flow: $31,526Monthly Per Unit Cash Flow: $138.202 bed 1 bathNo.

(Use it only for that, and don't separate the pen from the pad) Setup your notepad.

It is a separate transaction.

The point is to create a separate route.

You also need a quit claim deed, in case there is a divorce/separation situation, so one can quit claim to the other.

You will sign: "For ABC Company, LLC, Joe Investor, Member" You will do the same thing for the Option, if that's a separate document.

Asking price $450kNOI: $4100 per monthTaxes: $5000Insurance: $3000Sewage: $1300Water: $1000Owner pays the gas for the whole building about $3500 - $5000 per yearEvery unit has separated electric meters There is a 230k mortgage on the property with monthly payment of $2300 Taxes and Insurance are included in the payment.

Both units have separate entrances, laundry hook-ups, separately metered.

If she was a landlord and hiring people to do work on the properties then you and she might want to put some assets into an irrevocable trust for the children.The above is made up but I think it will help drive the point home.For your parents to separate their rental property from other assets they own they need to not own the rentals.