My wife & I did not want to stretch ourselves too much financially by buying an investment property on our own. The 2nd investor is also my wife's sister and we will either sell the property in 5 to 10 years or keep it as a holiday home as it is by the water. The reasons we are buying it are to either..1. Aquire a holiday home to use in future ye…[Read more]

Hi. Thankyou for your reply. The plan is to rent the property for 5 to 10 years and then sell or hold on to it as a family holiday home. The 2nd investor is family. All of the legal issues which you brought up have been covered. I guess my my concern is finding out what my estimated out-of-pocket expenses will be annually after expenses and tax…[Read more]