building is listed "as is" and is being sold by owner, a trust made up of the previous owner's 3 children. 

Financial freedom without the 9-5 go nowhere job allowing me as much free time with my 2 children, 1.5 yrs an a unborn.

I have two young kids, any tips on house hacking with small children?

@Shelby WillittsMy first two rental property investments were because 3 of my 4 children went out of state for college.

She basically never has anything good to say about anyone, including her own children.

That's an inspiring story.

Very inspiring. 

If anyone has done this with their children or parents I would love to hear how you got started and what lessons you learned!

You are opening yourself up to tenant resentment and tons of financial liability if you fail to take action, take wrong action, or take the correct action against the wrong person.A strike system like you are proposing works great... on you children.

We have two adult children (who reside in PA and NC) and therefore would like to have a home with at least 3 bedrooms for when they come to visit us.Although we can afford to purchase the house outright, our children, who are very interested in getting involved with investment properties, have suggested that we consider a property that we can AIRBNB/VRBO the home when we are not there (basically the summer months).We could purchase the home outright and keep our current funds invested in the market since the mortgage rates are so low.