If the numbers work out then renting it would work! 

He did say he’d be willing to do it on a one deal basis by providing the cash for the deal and then we could decide if it’ll work out long term afterwards,I’m happy to hear that partnership has worked out for you!

If you cash flow in that scenario, then it will work out fine with you living there.

Purchase price: $60,000 Cash invested: $7,400 Sale price: $160,000 This turned out to work out for us, even though our intention was to rehab it and hold it as a long term rental.

Purchase price: $60,000 Cash invested: $7,400 Sale price: $160,000 This turned out to work out for us, even though our intention was to rehab it and hold it as a long term rental.

If it were me I would do the basement as long as the numbers work out, however I'm not you!

If you have a wife, girlfriend, significant other, or someone else that has influence on your plan, then BOTH of you need to be on the same plan.If you two are not then your plan and relationship could be strained beyond capacity.I would suggest you and girlfriend work out your together plan and both buy in to the same plan because this game could easily lead you down the path of pointing fingers at each other and ruining your relationship.Once you settle that then I believe you will have a better base to begin.My point is don't get into something together and then say my girlfriend doesn't want to do something.If you are together then it has to be WE or it will put undue stress on an already stressful situation.My 2 cents.Life can teach you alot (49 years old, property investor, married 27 years, father of kids your age)Good luck!!!

We always share the success stories, but it is good to share that it doesn't always work out.

Cash invested: $500 We always share the success stories, but it is good to share that it doesn't always work out.

I will have to have a property manager initially just due to my lack of experience and that I work out of the country for weeks at a time.