The one's I prefer handle everything in house, from purchasing the home, renovating it, renting it, then selling to an investor then managing for them on the back end.

With a purchase price of $250k, your rent is WAY too low!

In short: $4.25M Purchase Price. 15% down. 3.25% with seven years remaining. 

Process is simple. 1. purchase contract2. send contract to title company3. bring cash to closing and you're done

Purchase price: $252,000 Cash invested: $63,600First buy and hold.

If the Tenant fails to obtain or maintain renters insurance as required, the Landlord may purchase a force-placed liability insurance policy to protect the Landlord’s interests.

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My mother-in-law wants to help my husband and I on our first real estate investment purchase. 

As we all know, you are really paying for the commission in the purchase price.