Good call, Noel—licensing and insurance are critical, but in Tennessee, a contractor’s license is generally required for projects totaling $25,000 or more, including labor and materials (See Tennessee's licensing requirements).

Reports must include details of beneficial owners, such as names, birthdates, addresses, and ID documents.

Many even include a set monthly amount.

I've tried to include relative information, without writing a novel. 

Please DM me your email address and phone number if you would like to be included. 

If you take a loan to pay for your mother-in-law you are taking on that debt in your name.

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

Sounds like a good plan, should have plenty of options available.I would be cognizant of any group you talk with on two areas, the location of the property including any potential concerns of it being 'rural', as well as the minimum purchase price and/or minimum loan amounts.

Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.

just to be candid, unless you're using some kind of creative strategy... you need a really solid amount of cash including reserves.