Updated over 10 years ago on . Most recent reply
buying retirement property for parents
We are going to attempt to purchase a duplex/triplex/quad for my wife's retired parents(about 10 miles from us). They currently own a home 300 miles away. We are going this route so that way the property will have minimal cost or even cashflow on the monthly basis, while they travel to their various residences.
What loan options are available? Would this be considered an investment property? would we be required to put down 25% even though our parents occupy one of the units? could be "write-off" the lost rent while my in-laws occupy he unit(we dont charge them, but the home would be in my name)...all input is greatly appreciated,