So we're considering purchasing a house for our daughter who is in college and still a dependent. The home would be in her name and we'd be non-occupant cosigners on the loan. If she moves and we want to rent the home out, can we (parents) treat the home as a rental property even though we don't have ownership? Assume we pay handle all expenses and actively manage, collect rents as income, etc., and our daughter continues to have little or no income while in school. If this would work, are there disadvantages to doing it?
