There is a lot you need to learn in order to make this strategy work and a lot of ways you can potentially stumble.

If you put the house in her name and you have siblings or other folks who would have a claim as a direct heir on her estate, you run the risk of losing the property to another heir. 

The income potential for STR How did you find this deal and how did you negotiate it?

Would the potential cash flow of the ADU have an impact on the value of the property?  

I don't know - seems like we need to just let it go at this point or risk ruining the relationship with the landlord and making our lives miserable as tenants...

If someone stays at a property for 14 consecutive days or more, they could potentially be considered a tenant under state law, even if their stay is structured as short-term renewals.If the individual is classified as a tenant, landlord-tenant laws would apply, meaning you may need to follow formal eviction procedures to remove them.

What is the standard process from start to finish so we can eliminate as much risk as possible?

This collaborative approach not only enriches your understanding but also opens doors to potential partnerships and investment opportunities.

This will allow you to mitigate risk on the first property but also allow you to do a cash out refi on the second, so now you have access to tax free cash that you can do with whatever you please.

I am slowly going crazy with how expensive Massachusetts is and I am leaning towards looking at cheaper foreclosure properties.I understand there is some risk to this but I am beginning to think this is the only option I will have because of how fast the market is growing.Thank you for any insight you may have!