Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Once you have consistent, high levels of cash flow then consider the “company vehicle”.

So assuming your son has low debt, then he should be able to qualify for a house in the low $300K range. 

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

In my state, if I moved to evict it might take ~2 months to get them out and then several more weeks to have the next tenant in place.

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

The numbers I use for an STR and long term are different so I would probably analyze them separately and then put it all together.

If a tenant has a recent eviction action then it is safe to assume they are not a responsible tenant.