Hey Christian, great detailed write up.

Tell them next year not to write everything off so they can show income.

What do you write in your leases (in WI) regarding someone breaking the lease?

First piece of advice, always, always, always put everything in writing when dealing with partners, ESPECIALLY family. 

Get this in writing.

I'll write down the rates below. 2.75% - 0 lender credits - $1,327/mo mortgage2.875% - $1,200 lender credits - $1,340/mo mortgage3% - $2,023 lender credits - $1,337/mo mortgage3.25% - $4898 lender credits - $1398/mo mortgageI'm leaning more towards the 3.25% so I pay close to nothing for closing costs but obviously with the estimated rent, I would have to charge $1,600 to cash flow maybe $100.

also can I write the entire project off on my taxes ?

Hey Eric,I would really recommend sitting down and writing out what you WOULD be doing if you were present and could do it all.

@Connor Kerr I asked the property manager write a letter saying basically what you said.

I'll put my prediction in writing: this will have no meaningful impact on *existing* neighborhoods.