Retail is great, but my primary interest here on BP is that of becoming a flipper/rehabber; I love the idea of taking something less ideal and making it beautiful for a family to live in and make great memories there.

If you can structure your career to have more time with them - great.But don't sacrifice family or experiences and memories just to make money to use "some day". 

This is pretty close to the state of the law in my state, Illinois.In Illinois, you can execute an addendum to a lease stating the lease "memorializes" the previous transaction with no problems. 

Dunno how I got off the subject, but this brings back memories of when I loved life and had my REI company.

I closely watched the last 4 real estate "crashes" and never got a rental until 2008/9.My POV is that the 'walk down memory lane' while feeling good does not reflect current scenario.The price rise is not fueled by cheap money though it has helped alot, but by cash in the market.The last crash, as most recall was about the undewriting guidelines being thrown away in a misguided attempt at fairness.

Exotic teaser mortgage deals will not come back to the hand-biters...certainly twice shy, and the memory is too painful.

My dad was a mechanic, and some of my best memories as a child were just being with him, watching him work.  

This brings me back to memory lane.

She owned the house with her now-deceased mother and just wants to get away from the memories (but I don't want any bad memories of my own associated with this place).

Next step is to memorialize the verbal agreement in writing.