Wondering about my strategy for getting started

[Grace A Tibbetts]

Our home is in my mother-in-law's name and almost paid off (only $8,000 left). My thoughts are to take out a $50,000 VA loan out on the home to put it in our name, pay her the rest of her money, and use the money to invest in rental properties in a high volume marketplace, the city of Bangor, ME. We currently live in Lincoln, an hour away, but a dying community. The average price for Bangor is $145,000 to $165,000 for multifamily units, with around $33,000 down and then $800 a month payments. Rent in Bangor is at about $1,000 a month per apartment. Is this a good strategy for us moving forward?