(Assuming quality of service doesn’t decrease.)No matter how you look at it, that is a ton of money.

He will be allowing you to leverage your money with his this is very good for you.  

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Even with 100% occupancy, I don't see how anyone could make money.

If you don't do that, once she passes it will go to probate court and it can cost a lot money.

Hiring a lawyer sounds expensive, but it is way cheaper than hiring a amateur (in this case yourself) who costs you money and provides no results (and then you need to hire a professional anyway).My personal philosophy is to "do it right, or do it twice" and its way cheaper to do it right once. 

This has pluses and minuses.If your property is bulletproof such as no framing - cinder block construction, cement floors, gloss white paint slapped on the walls and a cheap window mount AC, then you are in a prime position to make money with S8. 

The year of the purchase I saved money like a madman and saved roughly 22k.

Even with full coverage insurance you will not receive enough money to actually rebuild your home to today's building codes.  

@Rafael Ramos All your goals contradict each other:(1) Cashflow: buy Class C & D properties2) Appreciation: buy Class A & B properties3) Low Crime: buy Class A & B properties4) Why would you want your investments to lose money to lower your taxes?