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Landlords - Bad idea or terrible idea?
My future stepdaughter has accepted a teaching position in the Quad Cities, and needs to move. She has a cat and a large Husky / German Shepherd mix, which some landlords are hesitant to accept. She's going to check out some apartments this weekend, but if she can't find something, what do you think of this idea?
There's quite a few condos and single family houses below $100k in the area, and they don't all appear to be in the hood or the flood plain. I could sell a few investments and buy one without a loan, and rent it back to her at less than market rate. What are the risks or tax implications of doing this? Would anything change when her mother and I get married? That should happen June 2017, unless Morgan Fairchild starts returning my emails.
Let's say she hates the job and leaves after a year, or two years, or ????
I don't want to rent to someone I don't know, so I'd sell the place if she moved again. How would that affect things?
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