No need to rock the boat, but also don't want to miss out on income potential.

I stole this from a colleague...Party Hard yo.

The good part is you probably have a VA loan option.

But I also really want to step away from my office more often and get in front of people, and I want to do it in a way that, successful or not, is respectable by all parties!

Records listed through county land records shows property is party of life estate with some remaindermen.Property taxes have not been paid since 2016.

By the verbiage used in your post it sounded like this is what you received; however, I realize that the precise meanings of different terms can vary between parties if they do not know the formalities.

For example, after they've had some issues with parties occurring during reservations, they've passed a rule that says that guests can't book acommodations for more than 16 people and cannot throw a party.

@Brandon Ribeiro sounds like a solid structure for both parties.

I recommend finding good real estate agent, next part is finding good contractors, I would recommend asking your agent for contractor that is reasonable. 

This last part is really based on your state laws.