As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.

1) You would just write an addendum stating that the lease is extended to whatever date and everything else remains the same.

Otherwise many many many agents spend a lot of time and effort finding property and writing contracts only to find that the funds can't be transferred, or they don't have immediate access to the funds, or they need some kind of approval from 3-4-5th parties, or there are exchange restrictions, or 9000 other excuses.You probably need to find them a commercial broker who can handle whatever kind of investment they want to make. 

Make sure everything is in writing.

You do not need the property to be in an LLC or business entity to be able to take deductions, write offs, etc.

You would just take over payments on her existing mortgage.Another option is you write the contract for the $215K that Zillow estimates and you tell your bank that the $31K down payment is coming from a gift of equity.

I'm in the Reno, NV area and while it's not a high fire risk in many areas insurance companies are looking very closely at the mechanicals of buildings before insuring properties or before writing a policy.

I am not sure I've ever seen where the tax writeoffs are different for STRs than they are for MTR's or LTR's in terms of writing losses off against your regular income. 

If your ponder writing reflect significantly better cash flow than the 50% rule, be sure you can explain the discrepancy.good luck 

The handle writing the new deed and transferring as well for like $400 or something.