Keep it simple, but give the one tenant who is moving out a statement that releases her from further obligations related to the now terminated lease.  

I've had no trouble getting tenants to follow tub care instructions, which really are simple (no abrasive cleaners; use one of the dozens of other non-abrasive options) because they can't believe how great the tub is. 

Just buy some simple SFH that the numbers will work on.

Given that my CA properties are massively appreciated and my OH properties meaningfully appreciated and all of them together generate only modest taxable income it makes it an easy call for me to maintain the simple structure that I have.

So, if you're going to be living in the area for 5-10 years and you have a deal where the roommates are paying most of the expenses, then the math is pretty simple.

In other words, conventional lending happens in an environment where each party is acting in their own interest, not the interest of the other; the lender will want to see a sales price based on appraised value; the desire to provide a great price for a family member can get in the way of establishing a loan on appraised value, this is especially true if the purchasing relative has little or no down payment; family members may "gift" equity in a transaction to reduce the amount of mortgage money required, the lender must still be satisfied about appropriate value to protect their loan, gifts have tax consequences and IRS guidelines govern gift amounts. 9.Seller-Assisted Down PaymentsNonprofit groups formed in recent years offer down payment money to certain buyers; the payment is linked to a contribution to the nonprofit by the seller, but the pathway is not hurdle-free, assisted down payments may be barred in certain situations; simple and attractive way to secure a buyer who is otherwise qualified but struggling to find down payment money; nonprofit provision becomes part of the purchase contract; nonprofit receives the contributed amount, plus a processing fee, from the seller and sends the funds directly to closing as a credit to the buyer; the funds do not go directly to the buyer; sellers may be tempted to increase the price of their property to pay for the down payment assist.

Mere possession and use of the property as though it were your own can eventually give you clear title via the laws of adverse possession.To obtain possession from the daughter you've talked to, is as simple as having her sign (and notarize) a one page Quit Claim Deed by which she grants all of her interest in the property (if any) to you. 

It varies widely and this is something investors need to be aware of because it's not as simple as it seems. 

It may get challenged in court, but elected officials have wide powers during times like these.Absolutely not that simple.

In my experience the key is to personalize the letter, and keep it simple.