The way I saw real estate at the time was, saving money, buying a multi family, live there with tenant who help pay for my house.

Greetings BP folks,My wife and I are negotiating a deal in our area for a home that has a tax lien from the city and county.We have been working with the seller for quite some time and were offered the opportunity to purchase the home at a great price, we also have agreed to pay off the tax lien in addition to the purchase price. 

(for those not in the know, Netflix's original business plan was rental media via mail delivery, streaming was not even a concept or thought then).  

My sister is selling her house to me; however, we want to do a mortgage transfer since she currently has a 2.5% interest rate, but the bank will only pay what is owed on the current mortgage.

The larger brokerages are all paying $20-$80m settlements and small brokerages have no protection if this ever comes for them.

That would be a little higher than I would care to pay. 

Should I just contact my attorney if she does not pay rent on the 1st?

One San Leandro landlord is owed $132,000 in back rent and in Oakland you can't discriminate against rental applicants with a criminal back ground (except sex offenders) and several stories of non-paying tenants which took thousands in legal fees to evict in Oakland. 

Not only covering the rental income in cases where the dwelling is uninhabitable but more so if the tenant defaults and stops paying rent and has to be evicted.

So, you end up paying money to file the lawsuit which gets added to what they owe.