<prompt> Human: Some background: Im a first generation immigrant. My parents came to the states when I was 6 with almost no money. My dad lives in a lower rent neighborhood in a high COL city NYC. My dad has little in savings but lives relatively comfortably otherwise with my stepmom and stepsister. I live in a higher rent neighborhood in the same city and have a pretty comfortable lifestylesalary.My dad recently brought up a suggestion where I could purchase an apartment that he and my stepmom would live in and pay rent to me to cover all costs mortgage, building maintenance fees, general repairmaintenance, etc. He cant really afford the down payment to buy his own place here minimum for a 2bdr is about 200k on the outskirts of the city, where they live but he easily pays rent right now that would be more than the combined costs of the mortgage, maintenance fees, etc.His reasoning is that instead of paying rent to a landlord hed rather be paying rent to me. Im primarily interested in helping my dad out and to me this seems like a win-win as he potentially gets cheaper rent and I get payments on a mortgage for an apartment in a city with high real estate prices.My reservations: I currently rent, and Im not likely to be able to afford to buy an apartment within 45-60min of work within the next few years but I can afford an apartment in their area which means Ill most likely be stuck renting until I move out of NYC when: unknown I would have to cover most of the downpaymentclosing costswhatever other fees using my current savings for said things and it would delay my ability to get my own place by another 2-4 years while I save for another down payment.Im pretty biased by the desire to help my dad as we have a really good relationship and hes done a lot for me and my sisters, I likely would not be in the fortunate position Im in right now without him. With that bias, Im probably overlooking a lot of things so Im looking for advice about the potential downsidesconsequences to this arrangement and experiences from anyone whose done something similar. Im also wondering if theres another way I can help him out.  <response>: This sounds like a bad deal to me.I cant speak for your parents in particular, but I know how most family situations work. Rent will probably go from being the first thing on their list to the last thing on their list. I know, I know. That will never happen with my parents. ... but it will. Every other month will become we cant afford it; can you cut us some slack etc..Now, youre stuck with a giant investment that you cant really afford the payments on because your parents arent paying you regularly and you have to face the dilemma of trying to set them straight. 