Legal/practical advice for buying house with apt for Grandma
Hello- I was surprised not to see this question in the past (but please link if I missed it). We are considering buying a property with a main house for us and an ~1BD apartment or ADU for my mom, who would be moving from out of state. We are considering buying it outright ourselves and then renting to my mom or having her move in with us informally.
— I’d like to find good legal and/or tax advice about these arrangement options for us as the owners (such as tax deductions, capital gains when we sell, etc). From some reading so far I understand it might depend if the second unit is permitted and considered a duplex vs an unpermitted space in what is considered a single family home. We are open to both Berkeley and Oakland.
— Open to realtor recommendations for this kind of property
— Appreciate any other tips about the process. Would plan to have a lease and charge market rate, and are aware she would have strong tenant protections no matter what the formal arrangement is (so would be careful if she ever had a new partner moving in, etc, which seems unlikely right now).