Ca has similar due to prop 13, but it does not affect my underwriting.What the current owner pays in taxes is no more relevant than what they paid for the property. 

What other people do for taxes is not highly relevant unless they are in a similar situation to yours.

By being diligent in this process, you can ensure that you are fully informed about the terms of the lease and can make well-informed decisions regarding your rental agreement.It is important to remind the tenant of their obligations and to thoroughly discuss any relevant terms that may apply to the situation.

How much you paid for it is only relevant for capital gains taxes, but isn't very relevant to analyzing an investment property. 

This is especially relevant when considering STR since that market is so seasonal and can change quickly. 

You would need to get the relevant rules from the PHA you are dealing with.

@Jason C. offers a lot of accurate and relevant advice.

It also has the same tax-favored status.Trying to compare a rental investment done personally with a rental investment done in your IRA is not really relevant.  

and then split rent 50/50 until a limit is reached, once limit is reached i take over deed2. ) somehow seller financing with a generous termPlease let me know if i am overthinking or getting too whacky with this, I'm just curious what others would do.Some relevant details:1/2 way through a 15 year mortgagelocated in northern vawill be put in a trust regardless for asset protectionzillow estimate is 690,000TLDRwant to take over family house to rent it out long term, but dont want it completely gifted to me, how can make sure owner gets paid over time?

@Zachary Ware Sorry I removed the content while attempting to delete the whole post because I felt it would be more relevant in another forum category.