@Katie Szymanski Hi Katie, I’ve had quite a few house hacking clients go the non furnished route and they had a pretty easy time getting their rooms rented.

BTW, if your family member is trying to negotiate a discount, the only likely avenue would be a short sale and no other family members would be eligible to buy it through a short sale due to arms length transaction and non related parties restrictions for the short sale. 

Depending on the state you may be entitled to double or even triple your security deposit back if it’s withheld for a non-valid reason.

Presumably I'm looking for a non-judicial state without any licensing requirements. 

So yes, you need to commercial financing, i.e. non-residential financing.Until you "build up" the LLC to have its own credit history and enough of its own income, I believe you will have to personally guarantee the loan. 

Her MIL verbally told my wife and her sister gets her home, but never got around to specify in the will or a trust. 

But, for example, if the lease is month-to-month, and has a 60 day notification clause, then you could notify the tenant 60 days before you non-renew the lease.  

NON owner or investment loans are expensive right now If single family, your or wife's lowest middle FICO is 741, 69% loan to value,  no cash out 3.5 is about 2.25 total points you have a quote with 3.5  with 2.3 points (odd as it should be in sixteenths) but higher cost.

Too many stories of how the buyer lost their cash in the deal and the deed was forced back to the owner, should the owner hire a crafty attorney and charge you with fraud, misleading the seller, blablabla all non-sense, and all solved by only doing creative deals where the owner/occupants move out prioor to closing.If I guess corrrectly; this guy is a nut, wishful thinking and you should make a written offer,  based on him moving out prior to closing.  

-Quarterly inspections were non-existent until you ask then they do it the next day  I’ve been managing for past 2 years…  Even when I was in Florida and pregnant, I never experienced the type of headaches like I did with these PM companies.