And yes, I used the TREC contract, it's assignable and is the best if not the most legal option.

Only the first option requires a new deed.However, for a note, a more common way is to give him a mortgage to secure the note, and you'd record the mortgage at the court house.

So if you are planning on keeping it, my understanding is that you would only need to live there for 12 months in order to qualify for low down payment loan options if you wanted to purchase another owner occupied property.

Shoot me a DM and I can hop on a call and go over different options and see what will work best for your scenario.

This framing of an "entry fee" sounds like the best option when presenting to buyers. 

But apart from these things what else could I add to give my guest almost like a hotel feel.There are a lot of options, especially depending on the are in Tahoe.

What’s my best option for this type of property?

Jersey City is a good option and there are definitely more potential house hacks available in your surrounding area.

(Thus you would be taxed on the interest payments and whenever it gets paid off; but again, double check this with an accountant.)What might work better for you given what you're looking to do is a lease option. 

They have a county option that might be better but I didn't see prices on the properties there nor the addresses of them listed.