They want to save for a goal, REI in your case, they need to live somewhere while doing this anyway so if they can buy or rent, buying can seem the easier way to go.Whether you buy or you rent, a mortgage is being paid, correct? 

Collectively, they're worth $1.3 million, all paid in full.

Hi Patrick, A few things to think about:You'll need to find a property management company who will manage any deal that you buyYou'll need to meet the net worth and liquidity requirements to qualify for a loan You'll likely need someone with experience to also sign on the loanTypical structure between the LP and GP is a preferred return  and a 50/50 to 70/30 profit splitYou can have up to 35 non-accredited, sophisticated investors with a 506(b) offering, as long as you have a pre-existing relationshipAlso, do you have previous real estate experience?

Just wondering what sorts of jobs kids could do to be paid by our LLC. 

Bought 2011, $255,000. (30 year mortgage @3.875%)Mortgage (PITI): $1320Rent: $1600PM: $160Utilities paid by tenant except,Water: $75/monthCurrent value: ~$340,000Deferred maint: needs a roof, and new carpet.

Bought it for 56k; paid off student loan and car debt.

He has been constantly pushing back when he will completely be moving out and has not paid rent.

I still need to get with my bank and see about a pre-approval and then will be finding a realtor. 

This tenant remembered paying double deposit, but looking at the rent roll and signed lease they only paid one month rent for security deposit.

They get a receipt and I go online to see who has paid.