If you do go the checkbook control route, make sure you get all the necessary information and have a good understanding of the responsibilities that come along with it, so as not to cause problems in the long run. 

There are many ways to invest in real estate, and many different forms of financing, and the "best" type will depend on what you are doing, your funds available, and so on.Here are a few examples:Many investors that buy and hold long term residential properties will use your standard conventional financing (typically 20% down for SFR and 25% down for 2-4 units).

I put some numbers below into this Rent or Sell calculator.https://www.narpm.org/members/resources/rent-vs-sell-calculator/ESTIMATES ON ROI (15 year time frame)at 5% Appreciation would profit $100K if SELL nowat 6% Appreciation would have $3,500K more if KEEP and sell after 15 yearsat 7% Appreciation would profit 122K if KEEP and sell after 15 years(Assuming a conservative 6% ROI on money invested from sale.)NOTE: The property appreciated 10% in the last year so I’m thinking 7% over the next 10-15 is reasonable.DETAILSSale Value: $520,000 (Best guess)Paid: $437,000Original Mortgage: $415,000Mortgage Balance: $380,000Interest: 3.375%Monthly mortgage: $2,899Mortgage Difference: $1064Annual Taxes, Insurance, HOA etc**: $20,345**$13,865 (Non Homestead tax) $4,680 (HOA) $1,800 (Landlord Insurance)Monthly Rental Charge $3,500*Appreciation 7%Years to Hold: 15More assumptions used in ROI Estimates Above90% occupancy,15% capital gains charge6% selling feeRate of return on gains if selling now instead 6%Annual maintenance 1%Annual rent increase 4%$3,500 is slightly aggressive. unlikely I could get more.Thanks in advance for any constructive thoughts and comments!!!!

The problem of course is that we already paid off the county so I'm not sure what would prevent MDH from simply redeeming the lien and then we're in the same position. 

-Often a persons last years are in assisted living, a nursing home, or with their children, so I could take possession of the home (and generate profit from it) sooner than the persons death.Potential risk that I can think of:-Higher out-of-pocket costs/negative initial cash flow with delayed financial reward. 

@Alan Asriants so one I never claimed that was a guru.

PartnershipsI would suggest 1, 5, or 6Note this table is from 2022 so rates are up a little higher...

So we're looking at two scenarios:Scenario 1: sell existing home.

@Benjamin Stacey so we utilized a HELOC to get into our first STR deal (different than your situation, but I can relate).

So double check with your plan before you make an offer.