Yeah that sounds like a nice little cash cow =).

It is difficult to give you sound advice without knowing much about you.  

Things like these only sound good, they don't work.Again, the top producer would never go by your flip, ever, in a million years.

It doesn't sound like that has happened here because you keep saying you want to transfer it etc...essentially you want to give them the property, because right now today they do not own it and have not completed AP...you're doing their job for them. 

For California that sounds quite reasonable, we are at that and more in Boulder, CO.

It doesn't sound like it.

I feel bad that she is lonely, needs attention, and sounds like she has had bad experience with her past investments.

To them it sounds silly, which only proves that even professionals don't understand it.

That you knowingly, willingly and wantingly engaged in the venture knowing the rules of who can/cannot participate, knowing your disqualification, disregarded and engaged in it anyways. 

I know it sounds odd but I see it coming eventually maybe not right now but it will come.