Choosing a solution like that means missing out on significant opportunities to free up your time for what you do best while also foregoing the expertise of a tax professional who could provide substantial benefits—potentially saving you thousands of dollars.

With the property needing lots of work, I provided a solution to the owner.

Depending on how big your portfolio is it might be more or less expensive for you.

Property management would depend on the company but ranges from 7-10% so interview a few different companies.

However, even with this delay, there is no indication that rates will be increased further, which provides some stability for investors, homebuyers, and business owners looking ahead.What This Means for the Housing MarketHigher interest rates have undoubtedly slowed the housing market over the past year, but demand for real estate remains strong, particularly in growing metropolitan areas.

-Transfer the property into an LLC – This may allow me to take ownership while potentially avoiding property tax reassessment, however this sounds like an involved process-Establish a living trust for my aunt and mother – The trust would specify that I inherit the property upon their passing and provide step up in cost basis but i'm worried that the living trust can be modified to have me removed (who knows what can happen) - My mother is somewhat volatile.I would like to live in the property and my mother will live in her second property with her husband. 

Hi Saul, it depends on what you're looking for - cash flow or appreciation?

@Peter Tverdov it depends on going wages in your marketplace.I would imagine labor costs are much higher in NJ than in MI.

If your willing to do so, you can live in the casita and then rent out the main home and have your tenant pay the majority/all of the mortgage (depending on what type of deal you find obviously). 

Without knowing stuff like this, all the answers provided are meaningless.