On a downtown Main Street.

This then makes it an "attached" structure and a part of the main house.

Previous insurance company doesn't want to insure the property anymore because the main dwelling is empty. 

But there's restrictions put on realtors and that's the main reason I've stayed away from it. 

My suggestion to draw up the note was just to help his parents out for tax purposes, as I believe "gifting" the cash would be capped at $10,000 per parent.

Since you're living there, make sure bills and the like are going there -- it can look suspect to underwriting if you say you live at 123 Main St but all your paystubs/bills/bankstatements/etc are going to 456 Alternative St, I'm sure you can see why. 

(Buy and hold)My main goal is to get more involved and do more with real estate which is why I came here :)One question I have for most of you guys is: How most of you started with?

@Fabio A Becker yes everytime we buy a new property, we accquired a duplex 2 years ago and there was 2 doors per unit and common areas was garage and main entrance. we got a key ring full of keys.

That was the main objective, to get a cash flow to live on since I was basically unemployable.

Shoot me a message and we can chat about exactly what you’re trying to do and then I can connect you with the best one for your purposes!