Basement: If it's unfinished, it might be best to lock it off, use it for storage and cleaning supplies, and only provide access when guests need to use the washer and dryer.Size: 2/2 is enough space for most of the guest traffic there, especially if you can fit in a bunk bed.Well water: It's super common here.

The market rate for a full-service STR co-hosting company is 25% gross after cleaning fees.On average the following would be included... 24/7 guest communication, vender oversight, weekly updates on the OTA listings, make sure maintenance and deep cleanings get done...but owner pays the expense, stain removal on linens, marketing the property, keep supplies stocked...again owner pays the expense, keep property guidebooks updated (digital copy and hard copy), security (locks, cameras etc.) oversight, bi-weekly pricing software management, walk the property regularly, provide monthly reports, and obviously any guest problems that arise time to time.

Securing a stable income seems like the priority before locking down on a home. 

Does it render the lock unusable?

I plan to install new locking mailboxes, that would also allow for secure package delivery.

I would be curious as to what the average billing is to a buyer or seller for a completed transaction.Also in IL were the attorneys have a lock down on the closing process agents do NOT do as much work as in other states not by a long shot..

First and foremost, as you're changing out the locks on the doors, install doorbell cameras on the exterior to cover entrances in/out of the property.  

Are you more inclined to speculate that rates will fall lower (they should, I think they are likely to, but they may not) and you can refi, or would you rather pay a fee/premium to lock in where you're at now and hedge your risk of not being able to refi into a lower rate?

That locks up the equity.  

So, the family member is pocketing cash and guaranteeing a stable cost of living for themselves basically locking in their future at a time when values are high.