Is it a good idea to buy my Mom's house?

[Josh Barnett]

My mom owns a 3 bedroom house in Round Rock TX that she purchased May 2011 for 214k.  It is worth about 280k now.  Don't know her mortgage payments or exactly how much she owes.

Would the tax benefit be worth it for me to buy her house for the amount she owes and then rent it to her?  She is retired, has plenty of money, and makes a good amount from SS and pension.  I am also thinking about other benefits that can be written off such as repairs (she would pay for them through me) and visits.

The downside would be having to get another mortgage. But it would be for much less than the house is worth.

Please let me know if you think this is bad territory.

Another good reason would be to own it before she passes.  My brothers are greedy and would want to sell it as quick as possible to make a quick buck.  They know nothing about real estate so I am sure I can just buy them out.