Secondly I just finished "Real Estate by the Numbers" also by Dave Meyer - even though I have a business degree and am actively involved in investing it was a really great refresher on not just the numbers and theories involved in real estate decisions but also the pros and cons of different return metrics and how all the metrics relate to one another. 

However, if the renovation is deemed an improvement (since it involved a full renovation), it likely needs to be capitalized.

My local STRs require me to be VERY involved. 

However, you really only need to have the septic inspected if you are purchasing a mobile that will stay on the property.A septic inspection typically includes a sewer scope, which involves a small camera being fed through the plumbing.

@Hoai Nguyen suggest modifying your current lease to cover multi-family setup.Parking, shared access, police report required for landlord to get involved in disputes, etc.

All real estate investing (not including some creative strategies) involves acquiring real estate.

Additionally, there may be grant money or other funding programs available to you.Finally, if you get involved with a local real estate group you can likely find other investors that might want to participate in the deal with you.

Here's a few things you might want to consider:Open Family Discussion: Since there are multiple heirs and not all are on great terms, it’s important to have an open conversation with everyone involved.

If you want to buy a property for your kid, you should think about empowering her and involving her in the process as more than just a tenant.

The community is beyond better than any online community we have been involved with.