:)”@Curt SmithYou hit the nail on the head.  

Is the DIL considered to be "direct family," and if so, could the MIL gift her enough money for the down payment and closing costs? 

I guess the alternative is a phone number they can call and you can meet them down there with contracts and keys but I would imagine people would just go down the street to the next guy where they can get immediate service.

Brad Park I’d love to sit down sometime and hear your experience.

This was struck down, but they tried. 

The painter mentioned that reattaching/replacing some panels and applying a new coat of paint on the exterior would prolong the life of the home.I bought the home for 5% down and I am renovating the property with the intention of getting it reappraised to eliminate PMI.

Like going up and down the pitch over a 2 car garage could easily use a tube by itself, for instance.  

But because I sold it for 3 times what I got it for, in 10 years time, I did OK.I owned multi's in NYC where I rented to many good tenants who got tired of being turned down by condo or coop boards and rented from me instead.

Setting forth the transaction as a lease will also save you from the fact that your mortgage is unlikely to be assumable, TILA disclosures, claims of fraud down the line when he's unable to get the financing in a year, etc.

As I look at our costs, I question if I should have done a tear down and constructed a 3 story, so I am not sure.By the way my general rule is we do not do rehabs unless it returns double the cost and at least $50k.