I know you don't have money for a downpayment yet, but when you do, rent out rooms or buy a duplex or triplex and live in one side and rent out the others.  

I partnered with a friend on this deal, he put up $20k and his contractor knowledge and I the rest of the money to complete the work.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

Then rent the bigger home out using a property manager, allowing her to possibly cash flow and maintain that asset and let it continue to grow in value.Encourage her to consult with a CPA or tax attorney to explore the best strategy tailored to her situation.

If so you should be able to cancel but if you are doing it out of the inspection period you are stuck and could run the risk of losing your earnest money if you put any down. 

Penalties of these Federal charges may include:30 years in prisonUp to $1 million in finesThey have a "statute of limitations" - (with a third "T"  ;-) of 10 years from the date of the transaction - 10 years from now, you could get a very nasty call and hopefully, you put your reserve money in a good account that grew to cover legal expenses**********************************************And the universe could blow up as Doc says in Back to the Future " But, granted, that's the worse case scenario." 

This money will be used to pay down some debt I have and also purchase 1-2 additional rental properties.  

Consider partnerships or private money lending to boost purchasing power.

Time is money—choose someone who can execute efficiently without disrupting your revenue.8.

You think working harder equals making more money.