Quote from @Pamela Rivas: Hi Natasha,Here are some key points to consider about setting up a Mexican corporation:Setup Costs: $1,500–$3,000 USDOngoing Costs: $1,000–$2,000 USD/year (accounting and tax filings)Benefits: Tax deductions for expenses like maintenance, repairs, and managementBest for: Multiple properties or income-generating investmentsWhile a corporation is ideal for managing multiple properties, it’s NOT required to obtain an RFC.

Very helpful and  I think that what you are doing sounds  like a very good pet  policy. 

At that time we could renovate the ground floor apartment and potentially turn it into (2) apartments for a total of (5).My questions come down to how do we deal with the existing 40k mortgage, whether we can make it work so her parents aren't paying much in rent, if anything at all, and whether or not we set up any legal entity, like a trust to help the legal situation of paying off her sister down the road. 

I would search the BP forums because your tax / legal related questions likely have already been asked.However, it doesn't hurt to still ask the forum what your questions are.

(Agents like to keep listings, but they might send you buyer leads since they take up more time.)

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DIY online cost segs that are <$1k are being tossed out in audit like yesterday's garbage lately. 

It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.  

Mixed-use with some residential could also add diversification while keeping it simple.What’s the tenant mix like, and how are you structuring financing?