I am visiting my parents in Sydney, Australia at the moment, and got talking with my dad about the family business.

Long term is to have 2-3K+ positive cash flow by the time my first child heads off to college in 10 years.I look forward to learning, and hopefully limiting my mistakes through this forum.

I say we, I had to bring my parents on as partners to keep the project moving.

Lots of Gen Y / Milennials ( or anybody born after 1980 or so) really don't see the value of the suburban back yard as their parents did.

@Christopher Talbert, I would handle this in two separate situations: - First deal with your existing tenant (the parent, I assume it's the mother since you did not say).

I am currently married to my college sweet heart and we are the proud parents of a beautiful little girl.Real estate investing piqued my interest because of the great mortgage rates that currently exist, relatively low housing prices, and the fact that my dad has owned an investment property for quite a few years.

We just found a great condo in Morton Grove, IL that is a GREAT price and that after he would buy, my parents would rent there (currently they rent in glenview) These are all very nice areas, and I have made some calls to hard money lenders and that is just not the route I think I want to take.I would like to meet a private lender who can appreciate healthy returns, not some brokers who will just tack on more points and raise the rate.I really appreciate all the responses. ***********, did that answer your question?

My girlfriends parents have a vacant house next door which could be very nice but it's been vacant for quite some time and it's showing the signs.

I grew up watching my parents manage real estate and am in the process of buying my first investment property.

That will be difficult, from what I understand "B"s cell phone has been disconnected and even the person's parents don't know where they live.