She takes an estate for (5) years, which means she has control/occupancy for 5 years, then the ownership reverts to you, the remainderman, and the final $25K note is due. 

If the borrower is living in the home, you may have much more trouble evicting, regardless of the land trust ownership.  

Naturally, though, most CA people will loose money because of management costs/issues that are part and parcel with long-distance/turn key ownership, which for most will negate the positive effects brought on by solid fundamentals...Very little magic to any of this, boys and girls :) Figure out how to make money where you are, and stop trying to outsmart the marketplace...

Separation of land ownership and mineral ownership is very common.Edit: I found pics!

Home ownership, insurance, basics of stocks, bonds, mutual funds, REITs, budgeting and savings, insurance and banking practices.

Unqualified sales are those which are not arms-length, such as transfers between affiliated parties, those involving government agencies, transfers where ownership conveyed is less than 100%, or those involving banks, loan or mortgage companies and others.

Usually they will still be affiliated with or share ownership with a sales brokerage which is fine, but it should be operated as a separate business.- Make sure they manage enough properties, like >400 or so to be PROFITABLE doing only management.- Management cost should be low on your list of things to care about at this point.

If you've spent a little time here on BP, you know that PM is often the highest hurdle for out of state investors.You didn't mention the ownership/business structure you intend to use. 

Enjoyed reading your first hands on encounter with RE ownership!  

Page 9 (bottom) and Page 10- The home ownership rate peaked at 69% in 2004.