Is it worth it to go through the proper process with the city and run the risk of a huge expense to make this a 3rd unit? 

The shares are represented by certificates sold to investors for the purpose of maximizing value and lowering risks of pooling payments on fixed assets, which allows for increased liquidity, thus aiding the total market.

I get a lot of doubt from people but Im am willing to take the risk and go for it.

If they don't have reviews after searching that's a bit of risk.

If you put the house in her name and you have siblings or other folks who would have a claim as a direct heir on her estate, you run the risk of losing the property to another heir. 

:@David Krulac  since we last talked about due diligence on foreclosed properties, I have been reading up on how to minimize risk and have few questions that I hope you can help me out in this example.The subject property is owned by the bank in Delaware county,PA .

Just a builders risk policy if you are doing an extensive rehab on the property and then a landlord dwelling policy when the property is rented.

Hi we have been approached to rent out our 4BR/2BA residential home to a group home for at risk youth.

If you're a wholesaler, dont risk your deposit, and don't waste our time (unless you have a sweet off market deal!)

If you don't have $10k cash on the sidelines you're taking on risk.