Advice on different purchasing ideas

[Lucy Tran]

Hello, 

I have inherited a house but it is not in my name yet, it is in my mother's name. I have the option of "purchasing" this house from her and she will let me have the money (75-90k). I have the freedom to do what I want with the cash but I also have to pay it back in monthly mortgage payments. 

With this cash, I am thinking about a partnership with a colleague and purchasing wholesale to have a few rentals. I can also purchase a fixer-upper and rent it out. I am unsure exactly what to do. Instead of "buying" this house from my mother, I can also just buy a turn-key rental home and have a mortgage on that home instead but then, no cash. 

Any advice would be highly appreciated. Thank you.