My primary goal (whether it's a sound path or not) is to help my adult children build wealth along with us.

Only appropriate potted plants and other outdoor furniture are permitted on patios, decks and balconies.

To have a performing Airbnb, you need to easily invest $30-60k between furniture, designer fees etc. without even considering hot tub or other big amenities.

I invested in a six bedroom property a year ago, and am using it as a sober/structured living home for single mothers and their children. 

Since parents will specified equal value to all 3 children,  I would think we would have valid reason to explore the "ownership intent" option.  

The biggest issue is that my two young children are being woken up at night due to the odor, affecting their sleep and overall well-being.Since verbal and written warnings haven’t worked, I’m considering hiring an air quality inspection to provide documented proof that they are smoking cannabis or any kind.

investment property that your children "rent" from you. 

Have a handyman on call also who can help with repairs and even moving furniture etc. 

I would see how noisy it is from inside the house.You also have to worry about Families with smal children or pets.I would try and find something else.

I'm also in Chattanooga and have been eyeing a lot next to me that I'd like to do this with, but the owner is elderly, and her children just won't sell it, even though they have to drive from Cleveland to mow it.