Cash flow rental or a place for your parent?- Financial Advisor help?

[Flavia Vangelotti]

Hello again! My husband and I have narrowed down our options and I would love some feedback from all of you wonderful people.  To give some background, we currently live in San Diego and have 3 children between the two of us. We own our home with a pretty low rate from 2020 and also put around $800/month towards my mom's apartment rent. We have enough capital now to purchase a property and and we are blessed to have capital left over every month as well, which we typically invest in CDs.

Here are our current options: 

1-Buy a turnkey place that has nothing to do with mom for cash flow of $200-300/month plus potential appreciation, overall ROI of 15-20%

2- Ask mom if she would move closer to us in San Diego, buy a small place here, have zero cashflow but at least we have another property in a great appreciating market and are no longer spending the $800 on her rent

3- Buy a place for her in Orlando, same scenario as above but obviously a lesser mortgage since its FL and not CA

We found a great turnkey company we liked so if we do option one I think we will use them, but it just feels like if we do that we will still be tossing away what we currently pay on her rent. 

Would also love any financial advisors you have previously worked with and had a great experience with. Thank you so much!