If you guys paid cash for the property & want to avoid borrowing funds, but need money to pay the contractor & start producing income, then you could possibly do a lease option (aka rent to own) allowing the tenant/ buyer to choose design elements or have input on the design (so that they feel they're getting some kind of customization & added value), this would be of course AFTER collecting an NROC fee, (Non-Refundable Option Consideration - not a down payment but gives them the right to purchase at a future date - usually 3-5 yrs) typically anywhere between 5%- 10% of the market value of the property.

There is something called a BOE-58-AH Claim for Reassessment Exclusion for Transfer Between Parent and Child.

They have to claim it on their taxes as interest income, but still, in a low interest environment, many boomers wanting to retire or downsize can find owner financing a solid investment since they're making several times what they would on a similar cash deposit in a bank somewhere. 

(Not claiming to be right,  but enjoy hearing other investors perspective...)

There's not a day that goes by that I don't shake my head at some incredibly asinine thing a customer or banker tries to get away with.

I'm educated and very intelligent and also have a knack for computers and customer relations.

If you want a custom lease instead of the standard C.A.R. one, I'd call around to different attorneys who specialize in working with landlords.

You can't just claim you "didn't know" about contract terms in a contract you have signed. 

Part of it is also to 'claim' as much of the commission as possible.

2)They have a dog and claim can not take to the new residence where they rent, what can be done?