Holding a home in joint tenancy with a spouse, the surviving spouse retains the original cost basis on 50% of the home instead of getting a step-up in basis on the entire homeIf you own a home with your child as joint tenants, your child will only receive a step up in basis on your half of the value of the home when you die, this is another complex layer...

There is an exclusion allowed for property passing from a parent to child until February 15, 2021, but the rules drastically change after that date (Prop 19, Nov 2020 ballot). 

What clearly has changed since 2002 is that we have become a one party state and rolled out the welcome mat for half of the nation's homeless and even larger shares of other states' drug addicts, mentally ill and child molesters. 

The parent to child transfer of property tax base, was changed this year, due to Prop 19.

I'm undecided about how to finance the upfront cost though (deposit/reno cost).

I liked the house and willing to purchase, however, feel sort of undecided given the following reasons. 

the Child gate, alarms, etcThank you BP! 

If children there is child support and she may lien the house.Ask him for the mortgage bill.

They are not the cheapest but insurance is not a service you want lowest bidder on.If you are a veteran OR the child of a veteran you can use USAA.

You should do this in every room/every outlet.....now that you as the owner know about this deficiency you have to correct it (imagine a child gets electrocuted and the insurance finds out that you were discussing this on a forum?)