My client knows exactly what they are doing. Son is not in college, has a stable job/career he has had for over 6 years, needs a place to live and will get a roomate that will pay $600 to $700/month. It is within 2 miles of where he grew up, his job is and where we wants to live. If he needs to move in a few years, the place would still breakeven for the parents, will generate a tax loss and will be a good long term asset. As rents rise with inflation it should actually kick off some income in the not too distant future. We dont know what will happen and it works for them. The reason why it works is because condos have depreciated first. At the price we hope to get, it would be approx 25 to 30% off the peak.
