One way around this is to do a sandwich lease option and then exercise the option after that time period has expired.

@Andrew Syrios      I think he is referring to the exercise you get from farming.

Moving it down the street and plopping it down on your plot might be physically problematic if your existing home is in the way, and there are a zillion other things to overcome, and it overall still might make sense, but food for thought. 

I equate it to spending money on a physical trainer, or college, if you drop the cash you should take it more seriously. 

There is always the possibility the lender could exercise the acceleration clause for 'transferring a beneficial interest' in the property.

I think the original law was you had to have a license plumber physically change it all.

Since I am living in it and this is a thought exercise I am not worried about it. 

Read this snip from Fannie Mae's guidelines:Borrower TypesRequirements for Owner-OccupancyParents or legal guardian wanting to provide housing for their physically handicapped or developmentally disabled adult childIf the child is unable to work or does not have sufficient income to qualify for a mortgage on his or her own, the parent or legal guardian is considered the owner/occupant.Children wanting to provide housing for parentsIf the parent is unable to work or does not have sufficient income to qualify for a mortgage on his or her own, the child is considered the owner/occupant.That means you could do 3%-5% down, get the owner occupied interest rate, get the cheaper PMI, and it'll be PMI that drops off once you have 20% equity, without needing to refinance, with no fraud or sneakiness required. 

When will you get the physical collateral (and can you inspect it before purchase)?

(You'll increase your ROI considerably, as only 30- 60% will typically 'exercise their option to purchase,' unless you're very selective about who 'gets in,' and then they must also either set aside money monthly and/ or 'repair their credit,' as part of the deal... after putting down a significant (non refundable) amount, up front. 2- 5% is not going to work well here in California I don't think, in many instances???