Signing off a portion of my grant deed without any written agreement nor recourse down the line (if the deal went sour) worries me.

You would need to show that the cash-out proceeds were deposited to a certain account, and then a specific portion of this money was used for the purchase of the properties. 2.

The familial portion is in reference to children.

Depending on the type of retirement income he is collecting she could even be entitled to a portion of that in some cases.

Because the lease was not renewed, the program couldn't pay any portion of the rent. 

I have a smaller unit so my portion I assume would be a smaller proportion just as my HOA is lower.

Both 1970, 14x60 ft. attached to land.My analysis, for my portion of ownership (60%), based on 15 year holding periodPreTax Cash flow $6052Annualized ROI  13.39%IRR 34.82% (includes net sales proceeds of $203,535 at year 15)I've got the property under contract because I felt it to be a solid deal. 

The more expensive situation would involve potentially having to reframe a portion of your roof/ceiling structure

The preceding sentence shall not apply to—50(b)(2)(A) Nonlodging commercial facilities which are available to persons not using the lodging facilities on the same basis as they are available to persons using the lodging facilities;50(b)(2)(B) Property used by a hotel or motel in connection with the trade or business of furnishing lodging where the predominant portion of the accommodations is used by transients;50(b)(2)(C) A certified historic structure to the extent of that portion of the basis which is attributable to qualified rehabilitation expenditures; and50(b)(2)(D) Any energy property.I would take the position that hotel-like activity is a sub-set of lodging under Sec 50(b). 

My agency contract states that:Property Investment: Associate may acquire, for personal investment or residence, property listed with Firm's office or through the MLS, provided that Firm and any other Associate's portion of the commission provided in the listing is paid at closing.