Again, we don't want to be slum lords, we want our tenants to feel at home and happy.Very early on, we noticed she was testing the waters to see what she could get away with and also, I don't think she likes us holding her accountable to the rules and being around her age or younger.

I know it isn't necessarily required, but it seems like a good vehicle to write up a clear strategy, divide ownership, and mitigate risk.I know an LLC can't purchase a property.

Also, you should look for opportunities to buy below market and force some appreciation, so that you are not 100% dependent on cash flow to make all your returns, you will be insulated to some degree from short term market fluctuations, you create multiple profitable exit strategies for yourself, and your cash flow numbers should also improve to boot.

My possible strategies:1)  Take out a home equity line of credit on the condo.

My strategy would be to hold onto this property for 20 years while my parents receive the income and then cash out when the market is right.Rent: 8% gross salesCap Rate: 6%Base Term on rents: 11 years with 3 10 year options.In my projections I'm assuming sales increase 1% a year below 3.5% inflation.Using this conservative assumption IRR is close to 9.5% over 20 years (assuming an exit value with 7% cap).Does this sound like a good investment strategy?

We had some fun and made some money but I think a better, long-term strategy for that home could have been as an Airbnb rental or even a house hack.

There is a lot of information out there and I would love to know from you members what strategies you have used in your real estate investing ventures.

Then we can begin to talk about a REI strategy.

My strategy is not to make money per se on the coin ops, but part of the overall housing package that I provide to the tenants. 

Again-- all about business plans and strategy!