As long as you both agree with whatever you do and are on the same page regarding expectations then it isn't morally "wrong" ... it may or may not be a good business decision especially when evaluated in the light of all your other possible options.

@John Underwood you are right about not having to take out a RMD from an IRA, 401k or IRA as long as all monies are removed by end of 10 years.All distributions from IRAs and taxable portion of 401ks are taxed.

In regards to the insurable interest on the transfer to the LLC, as long as the owner of the LLC is the same individual who is on the mortgage, there will not be any issues with the insurance policy providing defense or settling Property claims. 

Just as long as we logged everything and kept track of what was what.

Looking to get a refi for 30 years with a lower than 4% rate.Type of property: Single family homeLocation of property: Diamond Bar, CAPurpose of financing: Refinance, lower monthly costs and overall long term costType of financing sought: Open to different options as long as it lowers their monthly payment and long term costsCurrent or prior ownership of real estate: Currently 1 SFH as primary; their business owns several commercial real estate assetsOccupancy: primary homeValue of property at present: $1.8 MilDown payment or equity: $900K equitySource of down payment funds, if applicable: own fundsIncome Source: They run a highly cash-based business and they've issued W2 for themselves for the purpose of their previous loan. 

Second, a major increase will likely cause emnity between you and the tenant for as long as they live there.

The foundation cracks are common, as long as the work was done right and there isn't any structural issues(bring an engineer out to look at it).

Looking for advice or credible resources on understanding the tax implications of renting below fair market value (FMV).Background:I'm considering purchasing my mother's condo and renting it back to her for below FMV for as long as she wants to stay in the unit (est ~8-10 years).

Major rehabs take me more time but rentals kind of a layup as long as you have systems in place!

I know for a lot it’s cash flow, but I’ve also heard that cash flow isn’t a good indicator for whether you should invest in a property.As long as I am netting $200 to $300 per month I would pull the trigger on acquiring the property.