I'm local and need a place (not in my house) for my twins while going to A&M so not strictly a straight up rental investment but not owner occupied either with extra bedrooms. Is their a jargon label the industry uses for underwriting a parent owned property that is different from a rental?
Would have been nice if they were a year younger to see if prices in general soften a year from now like rents seem to have this year. I know several parents around the state looking to unload BCS properties they got for their kids 10 years ago and then continued to rent them. They aren't getting the money they were or aren't getting them rented and want out to put their money someplace else. I could do a cash deal but would be more interested in going 50% down. Am I attractive to the underwriters to get a deal done at some level?