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My mother is on a fixed income. I make a decent living, but only recently have I paid off all my major debts aside from a couple grand in credit card balance (no where near my limits) and a monster student loan. I only have a about $2000 in cash, but my month are about a third of my cash flow so I can build quickly. I am currently renting at $650 a month including utilities. I am considering:
1) buying an investment property in an area with low property value but upside potential and renting it out to cover mortgage while building wealth.
2) buying a single family home and moving into it while renting out rooms to help cover rent.
3) Buying my family home from my mother and paying the mortgage while she helps with some rent money.
4) Putting my name on the family home and pay part of the mortgage.
How would each decision effect my tax liability vs write-off status. Are there any pros/cons that I may not see right away?
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I know Nietzsche doesnt rhyme with peachy, but you sound like a pretentious prick when you correct me.
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