I installed Minut senors in May (living room + master bedroom).

If you're living there and you plan on living there for a little bit but I don't see what the harm is in it especially if you want it. 

I visited a friend that lived in Raleigh for a few years after we graduated college.

Other than that, I want to stay out of their lives and let them enjoy the home they are paying for.

A naive sanity check for me is just making sure that a TOD is actually a legal contract that's not subject to change later by the owner like a Will or Living Trust would be. 2.

We live mostly in La Quinta.

I charge them the same as if they were living there renting .

I’m not 100% sure if I’m making a mistake in my calculations, but each time, the taxes take a surprisingly huge part of the cash flow.Any feedback/real-live experiences will be highly appreciated!

Wethink it’s important as it allows us to check for Non-Sufficient Funds (NSF) issues and to determine if anapplicant is living paycheck-to-paycheck.

Your plan is sound, but you want to make sure your whole family is on board and understands that you will be living next door to a tenant who may knock on the door at any hour.