This is standard business practice - just look up how many settlements the SEC makes annually where companies pay millions in penalties WITHOUT ADMITTING to any wrong doing.- Cash-for-Keys is another example of this!

Very practical.

Proper notification and time line is dependent on state law.  

Once you have steady employment, look for a place where STRs are allowed, with an in-law suite. 

I believe there’s opportunity in every corner of this business, and I want to make the most of it.Also figured I would reach out to likeminded people, the only family I have is the one I am creating I have my in-laws support as well so that is a help.

Standard real estate practices.

I'm recently retired after a 30 year career in law enforcement.

Request advice from anyone who is either a lawyer in Ohio or is knowledgeable and experienced with Ohio rental laws.

Your parents and you could probably use a really good Elder law atty in NY as well to look at how best to structure their ownership and passing to you.Nothing wrong with selling to a related party and completing a 1031 exchange. 

Because you are self servicing your loans most are not legally compliant with consumer protection laws and CFPB requirements such as sending statements on a monthly basis that have all the language the CFPB requires as well as each state may have additional requirements for sending out just a simple statement.