Turning my childhood home on the lake into a rental property - need advice

Major · 03-19-2026, 12:45 PM

I guess I assumed the OP's parents were of sound mind and capable of making their own decisions. What got me sidewise is that the OP's parents already expressed what they wanted to do with the house. Sell it and create a fund to send grandchildren to college. If I were in the OP's position, that would be the end of the story. The dream would have ended.

We did it ourselves without having to rely on gifts from family members or worrying about inheritances. Much more satisfying IMHO. I understand if you are gifted a second home the difficulty to making it work, given the expenses. However, as originally stated, I would never approach my dad (my mom passed away a few years ago) expressing my views about his finances or what he should do with his money and property. I am owed nothing. If anything, I should be paying him for being such a great parent.

03-19-2026, 12:45 PM	#16
Major Senior Member Join Date: May 2013 Location: Laconia Posts: 1,109 Thanks: 451 Thanked 1,038 Times in 435 Posts	I guess I assumed the OP's parents were of sound mind and capable of making their own decisions. What got me sidewise is that the OP's parents already expressed what they wanted to do with the house. Sell it and create a fund to send grandchildren to college. If I were in the OP's position, that would be the end of the story. The dream would have ended. We did it ourselves without having to rely on gifts from family members or worrying about inheritances. Much more satisfying IMHO. I understand if you are gifted a second home the difficulty to making it work, given the expenses. However, as originally stated, I would never approach my dad (my mom passed away a few years ago) expressing my views about his finances or what he should do with his money and property. I am owed nothing. If anything, I should be paying him for being such a great parent.