I wrote an article that I think you'd find value in that will provide some answers to your question: https://www.straightupchicagoinvestor.com/blog/6-must-knows

If they are professional, they can explain this quickly and easily.

Consult a CPA to ensure compliance with tax regulations and explore strategies that align with your goals, such as providing for your mom while managing tax implications effectively.This post does not create a CPA-Client relationship.

I wish I could say that I'm venturing into real estate investing for some benevolent purpose like providing low-income housing for the needy... but financial gain is certainly my angle lol.

You're running a business...you are not a social services provider. 

However, can you provide more information/details regarding your first townhome deal in Gainesville, especially the numbers?

Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

Paying off the mortgage can provide peace of mind and simplify retirement, while keeping the debt allows you to leverage your funds for higher returns through investments.

Smaller deals may sound "small" and yet they can provide a great deal of experience.4.

I am the boots on the ground and provide all of the time and my partners supply the money.