If you want real numbers and insights, I have a ton of resources on that.Happy to answer any specific questions, but the short version?

She'll pay me market rate rent, thus keeping that money in the family, and the condo will eventually transition into a more traditional rental property that will support my retirement and that my children will one day inherit. 

It really makes a difference when you use pros that specialize in REI and how they can help your money work for you. 

You should factor in time value of money and opportunity cost.  

Hey @Brandon Wallace so first, you are managing a Short Term Rental, not an AirBNB.

For a bathroom or kitchenette, the biggest factor is plumbing...if a water line is close, your in the money,  if not, costs jump.Best approach for now?

I would be happy to forward you the contacts of these folks so you can reach out, as well as a referral for a short term rental consultant who may have some insight.

Im not a fan of seller financing unless that property is free and clear and the seller is offering reasonable terms NOT on money they have borrowed. just too many people get into this type of thing without understanding the whole picture, like title being moved into the buyer's name, due on sale clauses... etc. etc. also, just because its a very commonly overlooked guideline which makes financing on 3's and 4's a little challenging: FHA requires the property to self-sustain its own PITIMI by the rents.

Let us say you want to have a Section 8 rental, then first try to define what you can afford and where is that money will come from.

Yes, they can dispute the charge and then the CC company will have to open a dispute that you will have to answer to attempt to get your money.