Here’s a couple links to get you started:Applicable Federal Rate (AFR) DefinitionThe tax-smart way to loan money to family membersThose links will just give you a basic understanding of what it is, but double check with your tax professional to be sure if/how it might apply in your specific situation so you or your friend don’t get hit with any unexpected surprises later on. 

That is very smart.

I used to think I was somewhat smart, but I realize now there's a whole world here that I know basically nothing about.

If fair market is $2500 give or take, then a small concession to keep a good tenant in place is probably smart business.

Wheelbarrow Profits: How To Create Passive Income, Build Wealth, And Take Control Of Your Destiny Through Multifamily Real Estate Investing by Jake Stenziano & Gino BarbaroThis taught me about the benefits of multifamily investing – something I hadn’t considered before reading the book.The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate Investing by Brandon TurnerThis taught me how to analyze properties!

Smart / tricks, advice for best long-term rent experience moving to short-term rent game?

@Jose RamalloHi Jose,It would be smart to pay to have a home inspection done on it.Good Luck!

Further the triple benefits of loan pay down (if rented), cash flow (if positive), and tax benefit (Mortage Interest if financed) makes this a seemingly smart move.

And luckily I was smart enough to hire out major electrical and major plumbing.

Louis Fed delinquency rate chart.Do your due diligence and by smart and don't overextend yourself .