I have an opportunity to buy my parents house and make payments without a mortgage. Their home is completely upgraded and I plan to use as primary residence. There are a few things it lacks that I can add as I go. They want 15 yr payments so I can't afford to keep paying both house payments. My current house is 5 mins away and in good shape. If I sell I would refinish the wood floors and not much more is needed. I could probably get a $30-40k over what I owe. It's a desirable area with good schools. If I rent it out I could probably get $200-400 a month over the current payment due. I'm thinking renting it out would be a good choice so I could pay it down more quickly. We just put in a pool this summer. I want to makes sure that if we get a good lease drawn up, would there be any way that we could have liability if something were to happen in regards to injury with the pool. The yard has a 6 ft privacy fence. There is a gate on the pool deck. It is semi inground, so I can literally throw my leg over any point and climb in. I'm assuming any renter would mist likely have kids as it is a 3 bedroom. I would sell if the liability were to high to rent. I just spent $20k on the pool so don't want to take it out. Thanks in advance for your advice.