Buying First Property From Parent

[Michael Everett]

Hey all, very new to all of this, but had an opportunity present itself that I wanted some feedback on. My mom will be selling her condo in the next year or so to move full time to her vacation home in FL. I'd like to purchase it to ultimately rent it out when she moves. I'm an actor on tour and don't plan to live in one place anytime soon. I'm wondering if there's a possibility for me to buy it from her with a standard/private mortgage, where I put down 3-5% and can let her still live there for another year before renting it out when she leaves. Or would I still have to put down 20-25%? Does that make sense?