They've performed well and expenses are extremely low.

Just understand that one mistake can be very costly.  

conversions generally don't work great when combined with a cost seg.

So, the family member is pocketing cash and guaranteeing a stable cost of living for themselves basically locking in their future at a time when values are high.

That makes a big difference on what is available for submetering, type of technology and cost.

@Paige Kehoe cost vs time will be your biggest challenge!

Even after you have title, if there is a redemption period in that state, then you want to wait until the redemption period has passed before you make any costly repairs or upgrades. 

Hello guysReno got costly on this last BRRRR deal.

(many of my homes come in right around the 100k appraisal mark in which many lenders are not interested in Less than 100k loans)      -  Very low loan orig fees-  total bank fees Avg $1071 per home

If the percentage if equity is very low, it makes it difficult for an ambulance chaser to come after you.