I am a real estate investor looking at a new opportunity and is looking for some advice..The Deal: My mother has a rental home that has sat vacant for most of the last 10 years.

My mother-in-law owns her single family home outright in Hoboken NJ, bought it 30-something years ago when it was a slump town.

A little bit about my search.BRRRR looking for maximum value addPre-approved for 185k hard money loan (although, from what I see I'll be able to get my feet wet for much less)Quality tenants are my biggest concern(looking in "B" neighborhoods, think nurses teacher working professionals etc)Will be OOS and using PMI'm happy to discuss my situation in more detail.

I have been talking with my mother who has been working civil service for the government for over 20 years.

The owner's mother passed away a few weeks ago and they want to sell asap for cash and get back to Florida. 

My next big project is the design/build of an old nursing home into a multi-family apartment building in Old Brooklyn on Broadview.

You would probably be far better off buying something with a mother in law suite or buying a 5 bedroom near UCR and renting it to students by the room.

Only mother nature knows if the supposed "100-year flood"will happen in any given year (here's a video) that is by an engineer really fascinating for us Nerds.

But my mother's friend of 30 years has been on section 8 for over a decade because she's disabled and keeps her home immaculate.

My client inherited this property from her mother when she passed away a few years ago.