My parents are getting older and want to move into a home closer to us. We live in Portland, but because of the tax consequences of no income tax, they would prefer to remain in Washington. They currently live in rural Washington, but want to move to Vancouver to be closer to grand kids and us.

I am supportive of this, but because my brother lives far away, and the reality that the house they buy here will end up being given to my wife and I when they die, they want to split the proceeds from their current home with my brother, which I am in support of.

That leaves them around $350k to buy a house. At the same time, I want to get started in real estate in the local area, and due to Oregon's laws, I'd rather start in Vancouver. I proposed to my parents, that, instead of buying an SFH, we jointly buy a duplex or home with an ADU in Vancouver, expand their budget a bit, and use their cash out from their home as down payment, while I pay the mortgage on the new home. We'll rent out the ADU / other unit, and take the income, which my parents are happy to give to us. My dad used to be a real estate agent and property manager, and would manage the property for day-to-day issues (he's excited to do this -- he's always wanted to own a rental). My parents are happy that they will give my wife and I a source of income when it eventually becomes fully ours. I am happy to get started in real estate while having the help of my dad.

So, now I'm in the market looking for a home with an ADU or a duplex with limited shared walls (parents need single story for old age) in Vancouver. I see lots of such listings in Portland, but not as many in Vancouver. With the new arrangement, I'd be willing to go up to 550k. We'd also be interested in a house with an easy-to-add extra unit, such as a large lot, above garage addition, etc.

Are these easy to find in Vancouver? Does this seem like a sensible plan? Does anyone have recommendations for agents in Vancouver? Thanks for the tips.

Travis

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