We will allow you to use a new employment contract as qualifying income 6-12 months prior to your start date.  

It also depends on the situation sometimes a HELOC is warranted for short term financial needs so long as you have a plan to get back in the same or better financial position afterwards and the "means," and "will," to carry out this financial or mortgage plan- HELOC's are typically full documentation qualifying loans so you'll need actual income to qualify whether it be from pension, insurance, rental's, etc that are all fully documented on taxes, W2's, 1099 forms, etc.

If she's currently on Medicare but is trying to qualify for Medicaid, in some states the home can be kept if there's an intention to return (thus the allowable "caretaker"), but it will be subject to asset recovery upon their death, making it hard for the family to keep the home. 

To qualify for debt, lenders generally look at net worth (aim for the loan amount), liquidity (10% post-close), experience, and a solid credit score (ideally 680+).

@Elliot Angus To structure this deal, consult a Qualified Intermediary (QI) for 1031 compliance, a real estate attorney for seller-finance terms, and a CPA to ensure tax deferral.

A second option is getting a DSCR loan.Lastly, knowingly leaving deductions off of your tax return to qualify for a loan is mortgage fraud. 

Section 469(c)(7) provides an exception that allows qualifying taxpayers to treat rental real estate activities as nonpassive, enabling them to deduct losses against other types of income.

You may qualify and make it your primary for two years before moving to the next. 

Only do turnkey if you have your OWN well qualified inspector who can point out any hacks or deferred maintenance issues.Many turnkey providors are notorious for this.

@Bruce Schussler   I am always suggest my borrowers stop at 60% loan to value when utilizing this strategy.  60% is the loan to value where the loan would qualify for the best possible rate.