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[quote=Anonymous][quote=Anonymous]I think this conversation about scams and so forth might be drifting. OP herself says her ILs are good people, and who are we to think we know better? To me it sounds simpler and less nefarious. The ILs want a significantly nicer house than they can afford; DH wants to give it to them and has convinced himself it's a good idea, but it isn't at all (except for the ILs). While in all all probability DH and ILs would be going in with the best of intentions, I suspect this purchase would begin a slippery slope of also asking for rent breaks, assistance around the property, etc. etc. etc. And that's not including tax and inheritance ramifications. I posted earlier about this and think it's the biggest danger: that DH would cut his parents breaks on the rent - more and more over time as health bills and other costs mount - and OP would be stuck holding the bag on a house she doesn't want. [/quote]

+1.  I'm not thinking they are out to scam her, but this deal is going to drift in a bad direction as the parents age.  OP is going to be carrying all the normal risks of owning rental real estate, but also dealing with a DH who is not on the same page as she is about how to treat the ILs, which will be hard on the marriage.  And the DH and FIL thinking they don't need professional advice is a red flag-- their overconfidence will lead them into a bad deal and bad tax planning.

The scenario that scares me the most is that one of them gets sick and they have to spend their nest egg on that, but the other one is healthy and doesn't want to move out of the house, yet can't manage the property without help.  So the OP would be stuck getting no rent, paying all the taxes and maintenance, and also doing a ton of work.  With a normal tenant you have the option of evicting (though it's very difficult to do even then), but OP's DH would never evict his parents.  This is going to leave OP holding the bag, and her DH will be very disappointed when his rosy scenario does not come true.  For the sake of his own relationship with his parents, OP, I beg you, say no!

And all of this just because they want a nicer house than they can afford.  It's not like they would be destitute.  They just want a McMansion on their DIL's dime. [/quote]

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