I don't know enough about the deal or the borrower to give proper advice.  

You do need a proper license, which costs $50 per unit rented.

If you master your own strategy, you will be much more successful than the guy that executes many strategies marginally.Whew!

. - "No need to ensure proper safeguarding of SSN". 

You need good systems and a good process that you execute on consistently.

Good rentals will bring money in without demanding a lot of your time provided you pick carefully and manage them properly.

A properly designed, and funded life insurance policy will allow an investor make more money by leveraging their cash value.

One option presented was execute deeds from Grandmother to Mother and Mother to me to maintain prop-13 on both.  

The major benefit is getting a better mortgage rate compared to an investors rate. i would research "house hacking" on this forum and read what others have done executing this strategy.

I live in Northern New Jersey and am talking to a few people about their properties but before I get any further I want to know if I come up with a deal, that I get the contract done properly.