Win Win in my book.Now, using is as an investment vessel could be a whole different story, but I still see it as being a potential tool, especially to help someone that doesn't have the liquid assets to jump right in the game.

Esther L.I am also a new to this world so I will share with you what I am doing to get myself educated: 1) Go pro – No I don’t work for BP, but you get the tools you absolutely need to be successful as a pro member hands down. 2) Listen to every single BP pod cast.

Ok, now that you have taken your initial step, below are some quick links to get engaged.Congratulations on your acquisition and welcome to the world of landlording.Below, are some links to review while waiting for feedback on insurance quote.https://www.biggerpockets.com/renewsblog/2013/01/27/tenant-screening/ (Landlord/tenant screening)https://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (how to rent your house)https://www.biggerpockets.com/rei/pay-rent-online-payment-tools/ (Online rent payment)http://www.biggerpockets.com/renewsblog/2012/12/09/how-to-be-a-landlord/ (How to be a landlord)https://www.fanniemae.com/content/tool/landlord-guidance.pdf (Fannie Mae landlord guidance) http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

You already have a lot of tools in your toolbox as shown in your profile....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categoriesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

You can perform a background check / credit report through BP's tools (Tenant Screening) or use other tools -- I use CIC Apply Connect.LeaseYou want it to be state specific, but if you're worried about legal fees, then a state specific one (without the personalization) can work well.

If you go to the "tools" tab, you can find the House Flipping, Rental Property, & Wholesaling.I used the Rental Property Calculator to create my own offline excel document to run the numbers.

In fact, it inspired me to further my knowledge on other political theory.

What websites and tools do you use to learn about average listing prices, sale prices, and rents?  

The analytical tools available here on BP (above under the Tools Tab) will give you plenty of financials to show your parents and you will probably impress them with your analysis and presentation if done properly.  

@John ArmandoWelcome to BP.I am also a new to this world so I will share with you what I am doing to get myself educated: 1)Go pro – No I don’t work for BP, but you get the tools you absolutely need to be successful as a pro member hands down. 2)Listen to every single BP pod cast.