Faux leather (ironically) is fine.

Considering selling maybe one of these via seller financing and then going on to buy purposes for the purposes of selling via seller financing for hands off income.   

That’s a solid move — taking a property most would overlook and turning it into both a profitable and purpose-driven asset.We’ve been doing something similar through our Home Asset Conversion model, helping property owners reposition underperforming real estate into veteran and senior shared housing — with long-term leases, stable cash flow, and huge community impact.Sober living, senior living, and veteran housing all share that sweet spot: high demand, low supply, and mission-based investing that still hits strong numbers.Curious — did you self-fund the rehab or structure it with a partner/investor model?

Long Island has different towns, incorporated villages, and other local municipalities with different requirements for renovation projects.These details are important to iron out before getting deals under contracts with wholesalers.

Anonymity/privacy, tax purposes, legal protection, etc. 

As a former IT professional I would not recommend storing passwords in any solution that was not designed for that purpose.

With a revocable trust, your mom still owns the property for tax purposes, so there’s no immediate gift or capital gains tax, and you could take over later as a beneficiary.

The good thing is LLC/partnerships are flexible and you can draw up the terms between the two of you to accomplish your purposes.  

The interest on the refinanced loan can still be deductible, as long as the funds are used for business or investment purposes, like buying another rental property.Since you’ve owned both properties for decades, your depreciation basis is likely pretty low, so a future sale would trigger large capital gains and depreciation recapture.

Also consider if the LOS will adversely affect STR status for tax purposes.