The average P/E of the stock market historically is about where it is RIGHT NOW ( around 16) so I would say things are not heavily overvalued or undervalued right now. 

They have either sold their existing home, transferred into town or their lease has expired.

So it will be in his name in the beginning until we can safely transfer it to an LLC with no due on sale clause worries.

Could we just keep track of the proffits and expenses ouselves and each report our share of it on a 1040 schedule E come tax season?

I used a line of credit on my primary home and I just did a wire transfer of funds to the USA. 

We are excited also to e-meet an aspiring Real Estate investor like you. 

I just transferred mine into my checking account.

Originally posted by @Dave E.

Is it important that the house transfer to you now?

I am planning to transfer to Cookeville TN to attend Tennessee Tech university for my last 2 years in college and felt this might be a great opportunity to get my first rental investment property by house hacking a multi-family property in the area.