They converted the dining rooms into bedrooms for themselves and got roommates for the other four rooms.They only put down 3% through an FHA loan cosigned and funded by them and their parents, who were getting to keep the rental profit and a portion of the resale profit (I don't remember that number being mentioned.)

Capital controls imposed on Chinese citizens really began around 2016, which may explain why homes prices really started jumping up early 2017 as the controls became effective around June-July of 2017 so presumably many buyers were rushing into safe haven assets in anticipation of this happening.Long story short on China, many citizens have fears of policies over there and feel that a weakening Yuan over the next several years in addition to bank runs and an impending credit crisis (China has printed more money over last 2 years than ever in their history) will have heavy implications on their wealth and they wish to diversify and send as much money out as they can before things begin to get really messy.

I'll also frequently schedule calls at 9pm-10pm eastern (convenient if I'm calling west coast or other parents of little kids).Finally, I actually take a ton of leave for my side hustle. 

@Brady BitterThe main thing i was debating with myself was whether or not i should treat single family portfolio  similar to a commercial or multi-family value add deals - the main difference is how its valued - on commercial/multifamily the value is a factor of its income, while single family is solely based on sold comps, therefore have less control over the value and are left to the market's valuation which tends to be more volatile comparing to rent rates.I think the IO route could be safe if you are Conservative with the LTV and have enough cushion to sustain any downturn that provide enough time to liquidate,

Hi Sally - Welcome.If you are considering investing in residential real estate in WA,  be aware that there are major changes coming in state law,  almost certainly including 'just cause' eviction rules (HB2453) this session,   and possibly also statewide rent control (HB2779) (less likely this session,  but IMO very likely in the medium/long term unfortunately)  that both if passed will substantially or even dramatically affect the level of risk, business model, and other aspects of owning and operating rental property.   

This account pays for all property related expenses - repairs, pest control, etc.  

Take control of the situation and avoid the lease signing without funds.

Then after it’s built I will refiI’m only doing new construction bc my parents have a construction business so I’m getting in cheaper than buying an older home anywaysKeep us updated on what the lender says!

My parents have not owned a house before and I currently have a mortgage on a house with my boyfriend.

We had no control of that since we only owned for one week.