That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

Quote from @Joyce Beck: @Rachel Hadass and @Ivorie Walker I'm right there with y'all, balancing family, job and RE. 

Interested in getting some extra income with converting the extra space in the basement into a rentable unit.Basements in a one-family home can be lawfully rented only if the following conditions are met:Compliance with the Housing Maintenance Code for minimum room size.There is a minimum ceiling height of 7 ft.The walls, as high as ground level, must be damp- and water-proofed if HPD determines that subsoil conditions on the lot require it.The basement is occupied by one family and does not include boarders.Every room must have at least one window.The bottom of any yard or other required open space cannot be higher than six inches below the window sill of any required window in the room.

Investment Info:Single-family residence fix & flip investment.

I own a single family home in Socal that my wife and i currently living in.

Below are three single family deals that came across my desk from Houston in the past 4 days.

Investment Info:Single-family residence buy & hold investment.

Hello Bigger pockets just dropped the blog link attached with current hedge funds buying single family homes .

I’d also look at local amenities, school districts (if targeting families), and proximity to major employers or transportation hubs.

Quote from @Kevin Hoover:  Input needed for least tax methods of unwinding a family partnership in the next 13 years.