At that time we could renovate the ground floor apartment and potentially turn it into (2) apartments for a total of (5).My questions come down to how do we deal with the existing 40k mortgage, whether we can make it work so her parents aren't paying much in rent, if anything at all, and whether or not we set up any legal entity, like a trust to help the legal situation of paying off her sister down the road. 

Do you think we'll see more foreclosures in certain regional areas or markets around the nation?

When reaching out, it helps to offer value in return—think about tasks like checking on properties when they can't, delivering materials, finding reliable contractors, or even handling basic project management tasks.Building genuine relationships and showing you're willing to contribute will go a long way in earning their trust and gaining hands-on experience.

Any trusted registered agent or advice will be highly appreciated. 

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

The property management is the most important part of any team and I trust mine all the way.  

. - Communicate openly and regularly to build trust.

Co-living is seen as a non-financial tool to encourage deeply affordable units, serving as transitional housing along the housing continuum.A study by Gensler and The Pew Charitable Trusts highlighted that adaptive-reuse co-living spaces could offer more affordable housing solutions compared to traditional studio apartments.

Trust and reputation builds and deals just flow from that...

It sounds like you’re looking to put your equity to work without the hassle of traditional rentals, which is totally understandable.If you're not interested in another property or dealing with tenants, here are a few ideas to consider:Invest in REITs (Real Estate Investment Trusts): This would let you benefit from real estate market growth without the headaches of property management.