This property will cash flow as it sits right now even with a DSCR loan and a high rate of 7%.Tenant #1- The highest paying tenant that just moved in this year. 

This way if there’s physical damage by residents the company pays the first $500 to fix it.

Only if your rents increase faster than inflation will you have the additional dollars needed to pay future inflated prices.The income must be sufficient to replace your current income; you will need to buy multiple properties (scale).The rental income must last throughout your lifetime and into your children's lifetime.The income must be reliable.

Since parents will specified equal value to all 3 children,  I would think we would have valid reason to explore the "ownership intent" option.  

My wife is in the process of getting her real estate license and we're excited to make a better life for our children and make a difference in our community. 

You’re in a great spot with lots of options.From a tax perspective, your STR could qualify as a non-passive business if the average stay is under 7 days and you manage it yourself.That opens the door for a cost segregation study and big bonus depreciation write-offs often opportunities that many CPAs who don't specialize in real estate miss.Like others have mentioned above, you can’t do a Solo 401(k) with just W2 income, but if you treat the STR as a business and pay yourself for managing it, that income could qualify, giving you another powerful retirement planning tool.Next steps: start by finding a tax strategist or CPA who really understands real estate and short-term rentals, and an estate planning attorney to protect what you’re building.

& on the 1st day God said "Rent's Due My Children....." or something like that.

The biggest issue is that my two young children are being woken up at night due to the odor, affecting their sleep and overall well-being.Since verbal and written warnings haven’t worked, I’m considering hiring an air quality inspection to provide documented proof that they are smoking cannabis or any kind.

All three buyers will do loans but can pay cash.  

My primary goal (whether it's a sound path or not) is to help my adult children build wealth along with us.