Thank you again for all your help!!

I invest here in Columbus, Ohio and would love to see how we can both help each other out. 

True non-recourse is EXTREMELY rare in residential real estate, so I hope this clears up some confusion and helps someone!

This should simplify your approach and help you avoid legal issues for failure to perform under the contract.

Also you might check out the school district ratings to help you get an idea of the quality of the area. 

Many of the above comments are very spot-on.Not sure if this comment will help, but maybe there's a way to get the best of both worlds if you can build this studio separate from the building and split the lot? 

Let me know how I can help!

Hello Huy,I found this great article that might help you.https://elderlawms.com/faq/do-gifts-of-property-to-children-...Also, you might want to consider taking over the property sooner rather than later, if you take over the property now it appears that you would be avoiding Inheritance taxes. 

I find that a clear contract outlining responsibilities and expectations upfront helps ensure a smooth collaboration.

This post will help taxpayers understand how to maximize accelerated deductions by examining a number of Sec. 1031 exchange rules and how they are affected by cost segregation studies.