@Franka HauckAndrew gave you some valuable tips.A couple things to keep in mind1) Charge market rent to your inlaws.

I'm only nearly 5 mos in on my venture but we need to carry the following for our residential care (assisted living)  licensed for 41 beds - but we can hold 36 beds in our current configurationGeneral Liability (We buy through an independent broker - basically covers medical malpractice, any slip/falls etc)Workers CompAnd even though you arent interested - Non owned auto insurance in case staff use their own vehicles to run an errand etc, building insurance for wind/hail etc inc general property liabilityAll of this runs around $33k to 36k a year for us - thats before health insurance for us etc - Work Comp is the most expensive part of that mix.Your best bet is likely not to find the coverage by calling yourself - you'll just waste your time - find a broker that can sell you this insurance - as far as limits - some of the limits are state mandated and will be in the regulations. 

Am wondering if I should for the sake of keeping the books straight charge myself rent (I have no plans to file eviction against myself if I don't pay).PS The unit is not held in an LLC and I have no plans to do that.

Your best bet is to find a lender that will allow you to close in the entity (My company allows it, even a brand new LLC but only on investment and max Loan to Value is 75% so there are drawbacks).

Streets can be a to b one end and low d's the other end so do your homework.Dean- I would love to hear some examples of things you look for with pm charges that can be wrong.

But trustworthy boots on the ground will almost always be your best bet.

I agree that I don’t WANT to move my family there but In 5+ years that could be an entirely different story.... and that’s kind of what I’m betting on.

I think it’s better to rent, but if you’re fixed on buying, I think getting roommates in a townhouse would be the best bet.

Some of your questions are state specific (taxes are charged and paid differently in every state, so I can't address that).

If you're the only one charging for gas on top of the rent, then I wouldn't consider it.Unlike water, and if you control the thermostat as I do at my rentals, unless the tenants purposely leave the windows open on cold days to spite you, you do have some control over gas usage.