In addition to taking 6-9 months to close, they are also subject to (i) annual audits, (ii) annual REAC property inspections, (iii) recurring annual MIP payments on top of your interest rate, (iv) large initial deposits to the replacement reserve, (v) commercial space limitations to 15-20% EGI / 25% NRA, and (vi) less forgiving underwriting with 7.00% minimum vacancy rates when determining our underwritten NOI.

They are exceedingly rare, thus very expensive, but I believe they represent an excellent long term steady income and store of value.  

Rent in Lima, OH has experienced a 29% annual growth but is still 53% lower than the national avg. along with the median house price!!

I am seeking mentors and or guides to help me invest in business that can eventually help offset W2 income tax.

That $3,000 is typically the annual cost for a full service property management option. 

If you join a brokerage with low or no monthly fees, your annual expenses could be as low as a few thousand dollars.

Alternatively, your in-laws could partially gift the property by using the annual gift tax exclusion ($34K per couple annually), lowering the sale price and their taxable gain.

Focus on long-term guests, like corporate clients staying 30+ days, because it’s easier and brings steady income.

Work backwards from your $300,000 annual target to monthly say $25,000 per month.  

Would her income cover rent for a new home?