My husband and I are newly married (2 months) and the only experience we have with real estate is the current home we live in that my husband bought 5 years ago. My husband's parents have come across a house they'd like to renovate then sell or rent. They have offered their two adult children, my husband and his brother, the opportunity to be silent investors in the project, with a suggested buy in at $20,000. At this point, I'm not sure what percent share this would give us in the final sale of the house.

My father-in-law is a general contractor and will do the work on the house himself with the renovations expected to conclude in one year. The current owners are elderly and want to continue to live in the house as renovations occur, and will pay $1000 per month in rent.

My husband and I (and brother-in-law and his wife) are currently renovating our own older homes, which is why none of us are interested in buying this other house ourselves to fix up and sell.

I'm looking for any feedback on a) investing with the in-laws (conventional wisdom says don't do it because of family politics) and b) being a silent investor. Is this even worthy considering, as it's a family deal and we are newly wed? What other issues should we consider? Thank you in advance!