The section 8 website defines a family member as (father, mother, brother, sister, grandparents).

If your role in all of this is not already clearly defined, it would probably make sense to pass.

Only you can tell if this is a good deal, and if you don't know, I would suggest you pull back and better define your retirement goals, which will influence your investing goals, which will determine your buying criteria.

In my area, law students and housing authorities send "actors" out to walk properties and fill out applications in order to see who violates these laws and they file hefty fines regularly.The benefit of defining your criteria is that it makes it really easy to decide who you rent to, no more comparing applicants. 

Or maybe state or local gvmt. that defines this? 

Thanks for the links I will definately take a look at those.

In the absence of title insurance--which is not available for a quitclaim deed--the person receiving the quitclaim deed has no legal recourse because the deed itself states that only the interest of the grantor, if any interest exists, is conveyed.Whether title insurance terminates by transferring real property depends on the type of policy, and how “insured” is defined in the policy.

(d) Issues a written report of property value that is prepared for another person and that is not an appraisal, as defined in s. 458.01 (1).https://docs.legis.wisconsin.gov/statutes/statutes/452

@Amber Landry Depends on how you define "investor friendly"...you looking to borrow or just a solid banking experience? 

Roofs, vehicles, furnace, etc are each depreciated on their own schedule as defined by the IRS.