I used the lower of rent amounts for analysis. https://www.biggerpockets.com/analysis/rentals/ee5f6928-93ce... is link to the BP Calculation on it.

They will be able to update you on what you need to do to help fire proof your home, and if there are any other options to lower insurance like external fire sprinklers, sealing up, attic vents, defensible space, etc.

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

Their ability to recover their money should you default is much lower in this position.

Sherman does seem interesting though because of the lower cost and growth potential.  

Pricing and risk levels are about the same for the same type of stuff in either city.

It also did not have a pool like your property so that would probably lower the desirability as well.

Nor may appreciate your risk tolerance level.1.  

You could bring less down and possibly have a lower interest rate since you will be living there.

It ends when they AND their stuff is removed to the level that allows you to begin the re-rental process.