You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

If you have not flipped a home, do not have a rental property, and do not own a primary residence, you may have a hard time getting into lending.

Family owned, great reviews.

Last thing to look at (and right out of the pages of our client's own experiences) might be starting a transition of wealth in the form of using 1031 strategically to purchase property that your heirs live in until you pass and they inherit. 

I know because I successfully owned properties in Phoenix while living in NYC and Houston.  

I wondered about using your own vendors, here's what I found:"Currently, you cannot directly add your own contractors to Lula's network.

I invest, flip, own a property management company.  

Quote from @Huggy Ford: I own a property across from SDSU 9793 Keeneland Row, Blackhorse community La Jolla 12 years paid off.

I own properties in DC (where I live) and I used to own in Flagstaff. 

I do not own his property.