I am "on paper" and considered to be the owner.No rental money will be asked to be paid to me as the family member is paying the mortgage.

Things change and the money will most likely be better used in a different investment at that point.

Am I supposed to return his deposit money within 30 days of him leaving?

This is because, as adults, we ALL have *some* familiarity with cars and money and we know how the business world works!

If you need the money now in cash, you may want to find a different buyer to work with.

Depreciation is real, though over such a short hold it shouldn't cause serious expenses, and executing a 1031 on the GP's schedule is never guaranteed. 

We have a lot of money tied up in the unit and would like to find a rental unit the we would consider living in at some point with a house hack option/ADU and or a home that has a better long term appreciation potential. 

Hi community,I'm planning to house hack in Richmond or Fredericksburg/Spotsylvania and am considering renting by the room using short-term, mid-term, or long-term strategies.

My opinion is while not directly correlated, when banks start losing money and increase in defaults lending tightens and large losses typically will lead to more job losses.

It really is a different animal than either long term or short term rentals so it's best to seek advice from others with experience in this niche.