Yes, 100% you are allowed 90 days for occupancy and the lender can also grant additional days based on legal issues so long as they know and are made aware. 

I intend to hold the property long-term. 

Lastly, we built wealth and equity with long term holds. 

This document will memorialize the terms of your agreement, what your fee is, what your involvement will be, and dates for everything.

Just ensure you’re entirely comfortable with the long-term commitment and the specific REITs you choose.

This is the best terms I have seen in the market thus far.

The short term rental piece is very intriguing.  

I'm looking for a safe place to park cash long term with great cash return, so I'll explore ADU's more for now. 

An insurer owes no duty to investigate the condition of the title and makes no representation as to the condition of the title inissuing a title insurance policy.EXCEPTIONS FROM COVERAGEThis policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses resulting from the terms and conditions of any lease or easement identified in Schedule A and the following matters:4.

@Jerome MorelosIt will be similar to what you sign with a bank, there will be a note (which is the iou which states how much you can borrow and at what terms and length)Then there will be a deed in trust (assuming California) which is a recorded document that uses the property as security.