My thought was to refi one of them and use those funds as a downpayment for a townhome (daughter going to university) and rent a room and my daughter live in the other.

We self managed and my teenage daughters clean it.  

So I have essentially the same question as the original poster, and I understand the well-meaning advice, but this is more a case of trying to stay legal while renting to a friend of my daughter...

Either way sales is dog tough and the vast majority of folks out there watching these u tubes and getting excited simply do not have the chops to do sales its not in their DNA or personality  or family situation.Our Daughter in Vegas who has been selling RE for 9 years now is doing very very well..

My daughter owns a few long term rentals, so I have some real estate knowledge but I'm looking to invest in a short term rental that I can use in the winter months.

However, my experience with this program was terrible.Vet #1 snuck in his adult daughter, an extreme pot-head with a Rottweiler in an apartment building.

In my previous Phoenix trips the supply was much “tighter”; I ended up paying about $1,000 per month less this time, for a better  neighborhood, nicer condo, and the host was willing to negotiate (a little) despite it being high season.I was in the STR business (as investment only, my daughter ran the operation) 2014 - 2016 in NYC until we were effectively shut down as a test case of their municipal short term lodging ordinances by the City of NY.  

Also, if you're having trouble finding inventory in your market, look for single family homes with accessory units or even mother daughter setups.

Hello everyone,I interviewed potential candidates for one of my rentals and here's the situation- a mom and her 19 y/o daughter are going to move in first, then eventually the mom's fiance will move in once they're married.

Renting our money works the same way but no tax bene's so we do need to make more than normal.. as well as being self employed a lot of folks have no clue how much it cost to be truly self employed or when kids need things or kids collage.. one of my clients Daughter just got accepted to Duke.