this is not a get rich quick thing for me my ultimate goal is I don’t want anyone in my family to have to worry about paying a medical bill or any other bill for that matter.I am open to any and all words of wisdom so please any help is GREATLY appreciated thank you all in advance

Example: You'll get a better terms (relative to a bank), if a seller has to free-up equity to pay a tax bill or pay the medical expenses.

In order to qualify for the Homestead Exemption from property taxes you must own and occupy the property.

@Nav S.You're allowed a cap gains exemption on a primary residence as long as you lived in it 2 of the previous 5 years.

I noticed you mentioned nothing about that, or that you might be a registered non profit, attorney or other exempt from licensure entity and, I'm sure you pointed the borrower to New York consumer protection agencies so that they could understand their rights and protections that may be available to them against foreclosure rescue fraud....but then again...you're a fast learner.

I owe 420k on the house (2.2k/mo mortgage) and live in the 4/2.5 upstairs while my renter (medical resident) pays $1375 to live in the MIL suite that is a 1/1 - it has separate entrance/exit.

title company will walk you through it since AZ is not an attorney closing state.just negotiate the rate of return.. do check your usury laws and make sure your not violating those.. title company wont do that for you.lender may need to be licensed but commercial non owner may be exempt I know in NV its not neither is Oregon or CA  but most states have a carve out if its a one off IE its the only loan she makes and she does not hold herself out as a lender in any means..not really complicated. 

I have seen people put their own property in an LLC, then rent their property from that LLC, and that would help some but then you would not receive your "Homestead" tax exemption here in Texas.

They realize the medical field is ever changing so want something more of a hard asset and stable to provide residual income.All kinds of strategies out there.

I'm from Florida there is tons of opportunity there and its good for business owners when you retire regarding taxes given the fact that there aren't any state taxes and the homestead exemption is literally limitless if the estate is under 1 acre.