My mom and I would like to transfer the title of her home from her to me, in order to protect the property from the costs of nursing home care, if she should ever need it.

Also, in many ways they don't care -- if there is an emergency they will do whatever is needed and ask questions later.Neighbors can report can report complaints to the city/town who will track down the owner via tax records.Therefore, I believe the notice is to benefit the residents so they know who to call for maintenance, complaints, etc.

Careful as some areas they will require it to be finished as a single family if not a true multi.

However if you have tough skin and can handle C- to D tenants and neighborhoods you can definitely make a killing if you buy right.

The owner could be in a hospital, or incarcerated or on a trip, caring for a sick relative in a different state or in the military on assignment or any number of things. 

Also have you considered partnering with someone who is already experienced and has skin in the game?

I have pretty thick skin so don't be afraid to speak your mind.Thanks a ton in advance, I'm super excited to be apart of the BP community.

While you may say that you don't care, because it's just for getting extra rental income, it can make a difference down the road, if your fil ever wanted to sell or refinance. 

Be careful on borrowing from your 401(k). 

I don't care about the fact that i have to pay capital gains tax for >500k.