Hi question for superman or others in the know. I am looking at buying a good holiday rental in a popular location that has come onto the market and is really good buying even in these real estate times. It shows a good level of income and has a list of regular tenants and comes fully furnished. I have a SMSF just been setup and the funds from my old retail fund are been transfered over now. Approx 220K. The property is around 440K. Which is 60K under what others have sold for earlier this year the sellers have moved back overseas so need quick sale. Hence the reason i want to jump a conditional contract on it ASAP. I don't want to go down the path way of installment warrant loans as I would like to retain some capitl growth access on the property for myself in the future before retirement age. I am 35 so if I decide to sell it in say 8-10 years I want to access my share of the growth. So I am thinking of buying the property with my SMSF as "tenants in common" 50% share each. I will fund my share with my own money and the SMSF can fund its share outright with no debts. I understand you can do this and understand that I can not use the property for personal use. Now you know where I am heading a couple of questions, 1:As I own half the property am I entitled to half the rental income and the SMSF gets the rest as "tenants in common"? 2:How would holiday people pay the rent, will they have to put half into my account and the other half into the SMSF account or is there an easier way? 3: When bills like power/rates etc come in do I pay half and the SMSF pays the other half or is there another way to do this? 4: If in the future say 10 years, can I personally buy out the SMSF 50% share at fair market rates( have an independent valluation done) to have full control of the property? 5: Can I run the bookings myself as well as use the local agent who was cool with this, as the regular tenants can call me direct to book in so as to save agent fees and the local agent can book it other times? I wish I could afford at the moment to either buy this outright in the SMSF or as an outright investment property in my own name but can't afford it but can afford a 50% share as tenant in common. Thanks guys for your views.