Hopefully, with a big enough down payment the mortgate will be low enough for tenants to cover.

- we have a separate business bank account that we could receive payments from - we have tracked all renovation costs and expenses, though they were done personally and not through the business

Plus with commissions, you have write-offs for expenses to reduce your tax burden. 4.

This means the interest rate gets bid down to al low as 1% and the price of the homes is bid up to an amount higher than you can sell it for.  

As like you said it gets very expensive and seems like an accounting nightmare. 

Hey Stephanus, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

The out-of-state seller utilized a typical property management company which resulted in bloated expenses and a rent roll below market levels.

We have owned these properties from 5-10 years and some will be needing some larger expense repairs.

Furnishing a place is expensive and stressful

Collect her rent payments and gift it back to her for tuition or other expenses while avoiding taxation.It would be worth talking to a CPA to see how to position yourself best while protecting yourself and teaching your daughter to live like an adult.