Sometimes I get calls from people about their primary residence, when the the target was their rental property.So for me, it seems marketing is what is working first and targeting second.

I ask this because these funds are ear marked for use in retirement, a long term investments and can be effectively used to leverage your return without having to re mortgage your primary residence.

They may attack the validity of the lease and those issues are stated.HUD regulations apply to lease terminations when housing is subsidized.A lease survives a purchase, except when a buyer purchases a property as an owner occupied home and 30 days may be given or a lease may be brokern with 30 days when an onwer has for any reason lost their primary home and has to take the property for their residence.....all state by state determinations, but you may have such exceptions.There are also other covenants in a lease other than just paying rents and if there are other significant covenants broken a lease may be terminated.

As a Northern California resident I found this interesting: http://www.businessweek.com/news/2012-05-30/toll-buying-half-of-a-2-379-home-california-subdivision

It should also allow him to "see" or "share a table" with his best friend and video conference with other iHousing residents.

Philip- I only DOMICILE in sioux falls and maintain part time residences in AZ, UT and our 5th wheel RV.

I also know that if you list the property for sale, it is more difficult to refinance it because lenders don't like to loan money on a property if it will be sold a few months later and if it has been recently listed that is a red flag.There is plenty of information and assistance available for mortgages on primary residences, but for investment property there is none.

I would not put that in an LLC, you need a family trust or leave it alone as a private family residence.

Have decided to limit to 4 units, HOA is amiable and residents are a close knit 'community' and amiable.

I have seen these issues go both ways as the kid will be assessed as to the likelyhood of future violations, other trouble and record and how the residency might impact other tenants, if any.