I don't care if he's the cheapest; honesty and accuracy are essential to our craft.

Every landlord should research the laws for the state where they own rental property, and craft a rental policy for themselves.

You could ask questions to provoke some lessons learned.Some ideas / topics to craft your questions around:First real estate investment dealExample of a business-related failure and how it was handledTime managementLeveraging other people’s money, expertise and effortsBook recommendationsWhat would you have done differently in the process of getting to where you are today, knowing what you know now?

Fancy coffee shops, Yoga, dog cafes, artesian crafts are moving in so that’s a good sign.

I also suggest having them help you craft an a straight option agreement as well.The last thing you want is to have a sanction against your license.

Craft a strong operating agreement and then manage the property until he passes.When he passes the heirs will get the property as if they paid market value for it on the day he died (the step up in basis that @Caleb Heimsoth was speaking of). 

So partner with a good lender who understands how to craft this scenario so you will not be conditioned by the underwriter to prove your utility bills, proof of residency, etc.If a UW askes for this stuff you know they are having a hard time believing you.Best of Luck,

Give it a read.https://www.biggerpockets.com/renewsblog/crafting-lifestyle-real-estate-business/

For your lake vacation rental...fishing equipment, a non motorized boat, a well stocked kitchen with all utensils and gadgets, a wine fridge or a kegorator with a craft 1/6 bbl, gas or charcoal grill, chimenea, cornhole game, a SMART tv, an accurate pellet gun with pellets or a scoped single shot .22 or .17HMR, some adult movies and a blue ray player in the master bedroom with an HDTV, bubble bath if you have a tub or jacuzzi, an indoor/outdoor sound system, some mountain bikes, binoculars, some games like trivial pursuit/electronic darts, two single shot shotguns and a skeet thrower with skeet, an outdoor firepit, a "help yourself" herb and vegetable garden, tiki lights, a small trebuchet for the kids, some basic tools like a socket set/wrenches/screwdrivers, and finally the most important thing...mosquito repellant.

I live in a tight market.. just missed out on one great opportunity, considering others opportunities and markets while I'm eating up all the Podcasts and Webinairs and books in crafting our strategy.