Are there regulations at the Federal or state (Michigan) level restricting the number of rental occupants per bedroom and siblings per bedroom?

Whereas this was an inherited house and there were several siblings I do not feel comfortable buying the property sub2.

However my siblings and I inherited a SFH which we rented when we couldn't sell it for a reasonable amount in 2009.

I have no idea most of the time what I am doing as a mom, and I am not always the best sister and daughter - but what I do know is that I will be the first of all of my siblings to generate passive income, and create generational wealth for my beautiful girls. 

hi everyone. i've been thinking about using my mom and dad's house as a rental property and would like some input. i'll try to provide a lot of information while keeping my post short.regarding my family dynamic: my dad passed away and my mom is living by herself in the house. they want to leave the house to my siblings and i. there are 4 of us (2 sisters, 1 brother, me). my 2 sisters live out of state each in a different state and don't plan on moving back here. my brother and i live in state but we both have our own things going on and don't plan on moving back into the house. ive only spoken to one of my sisters about this.regarding the house: IIRC my mom did a refinance, i THINK because her name wasn't on the loan. for some reason only my dad's name was on the original loan. i'm not sure what the terms are of the loan but i think monthly payments are in the mid-$1000 per month. it's a 3 bedroom 2 1/2 bathroom house. comparable rents in the same city are (according to zillow) listed at over $3000 per month currently. i haven't looked in to property management costs yet.can anyone who's ever split a rental property one or multiple ways with family think of anything that all of us have to consider?

I had to ask all of my siblings if they had any interest in purchasing it.

There are some 'younger siblings' of FS that I would consider more enticing right now for various reasons.

Could someone please advise on the tax consequences of transferring a detached single family home between siblings via a gift transfer?

It’s a probate deal with 7 siblings involved.

If the situation is as you believe it to be, then I would prepare a short one page Quit Claim Deed and ask each of your Great Aunt's siblings to sign it.