So when it came time for the child to sell the property there would be a larger and in some cases a much larger tax bill.In addition Life Estate properties are sold essentially at a discount that is figured out by actuary tables based on the sellers age and gender.

I attended a landlord bootcamp which I HIGHLY, 100% RECOMMEND even well experienced landlords go to, not the city run one, which I also have been to and came away thinking it should be called the "tiny bit of good info and LOTS of veiled threats if you're a future slumlord class" but its from the Apartment Assoc of SE WI (I'm a member for full disclosure) but you'll get 8 or 9 hours of PRICELESS info directly from the attorney who my usual, general practice lawyer said is hands down the one to call for any bad eviction or potentially big liability type deals and he'll go through things that the city for one, would never dream of telling you, such as how in Milwaukee Cty, our judiciary is very biased to the left side of politics as you'd guess for a generally left leaning county, but that many of these judges take those political stances right into their courtrooms and you sure as hell better be prepared for rulings that fly in the face of the current laws, especially the changes made a few years back when the GOP gained TOTAL control of state gov't in legislature as well as the governor seat and as was national news at the time, went like a machete through the law books and fixed a lot of things needing fixing, including several relatively minor aspects of landlord/tenant laws that COULD be exploited, as well as stuff that didn't make sense anymore, etc.

Jon is a LA commercial broker so he certainly has a bias to promote these types of sales.Thanks for your input everyone!

There does seem to be a strong bear bias about Detroit.

HUD dictates occupancy in housing and has guidelines as to size of rooms required for a bedroom, as I recall it's 70/80 sq ft at least 7' wide (allowing a bed) and ceiling averaging 7' or more in that calculation (like attic spaces).There are gender and age requirements, where small girls and boys can double up but older kids must have their own room or be with the same gender.

Like I've said, I've been in this situation myself and my personal bias is that you hold onto the asset.

Likewise, a presentation to a lender might have a tendency to reflect a bias to reflect low projected expenses.

However at 98 years old she was still living in that house when we bought it.There are actuary tables, life life insurance tables, that value life estates determined by the current age and gender of the life estate tenant.We thought that due to the tenants age that it was a calculated risk.

Being a Registered Agent in Delaware, my answer is going to be somewhat biased, but I'll try to remain as objective as possible. 

I was told at the time that the going rate for a paralegal handling a routine eviction in this part of Ontario was around $650.It is said that the LTB is biased against landlords and there is sufficient smoke that there may be fire.