If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

I am in the process of refinancing.

I was able to qualify for about $95k in 0% business credit cards (for 12 months), I then liquidated the cash and used a portion of that to obtain the hard money loan that covered the balance of the purchase cost.

It won't take much money to purchase something that makes sense.Use the remaining money to invest long-distance.

Many real estate investors opt for a fix-and-flip loan because they’re relatively easy to obtain: no personal income verification (no DTI requirements), and you can often borrow up to 90% of the purchase price and 100% of the rehab costs.

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

This can be a very long and annoying process and you're not guaranteed to get approved.

Or buy something that needs some love and some hard money lenders will fund up to 90-100% of the purchase and rehab.

Since I will be managing it after purchase, you can be certain I'm not going to sell you a bad investment.

Purchase price: $355,500 Cash invested: $75,000 Rental Property near community college What made you interested in investing in this type of deal?