It is important to consult with a legal professional or financial advisor to fully understand the implications of assuming the mortgage and how it may potentially affect your financial and legal responsibilities in the event of unforeseen circumstances such as her mother requiring care.

The price of the houses are astronomical,  property taxes is the highest in the States.

So just knowing the basics and directing them in the the best tax position is helpful.

It will be a business and will be taxed as such.You will need to get with a CPA in order to quantify those differences.

Helped us pay off the mortgage, now we are paid to live here after paying all expenses like taxes, insurance, utilities,  internet,  etc👍 

Complaints go through Licensing.And yes, since your insurance is denying due to negligence, you should consult your attorney and review the PMA. 

Have considered bank note investing, tax lien/deed investing, loaning it out, etc. 

Taxes? 

You would have to consult a qualified attorney or two to see what is the status of your corporate veil and your risks.Otherwise, you could do what many investors do and invest in their personal name. 

Looking for a CPA or tax preparer that is well versed in the STR loophole and cost segregation.