Quote from @Frank Pyle: My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental.

I’m new to BiggerPockets and I’m a private money lender.

If I were you, I'd pass on this property and look for something else (and I suggest a 3 BR) under $80 that you can put a little rehab into, unless insurance pays your family member a bunch of money and they accept a much lower price. 

Section 8 is a legit way to make money.

Keep in mind it is a risk and speculation, if something happens(market tanks, job loss, etc) then you will be out money.

For a new agent to land a listing they typically over promise a seller a high price to win it and then spend money trying to find the magical buyer to purchase it.

I allow pets and charge a pet rent of $35 a month, its nice bit of extra money and pet owners tend to stay longer as tenants.

I am in a similar boat...A goal I have for 2025 is to pay off a mortgage (my highest interest is 4.5% and I owe $180K on it).

If you want to make money you hustle and hustle and hustle. 

The person calling you is on a money grab. you do not need a wyoming trust.