My wife is a high earner and this is my only job.

My goal is to structure the investment so I don’t need to contribute any starting capital.

One of the best ways to engage with the community is to remain active in these forums (reading & contributing).Setting up keyword alerts is a great way to get started.All the best!

You might want to consider using your equity in the land as your contribution to a partnership with someone that brings that sorely needed experience to the table.

Hopefully someone else will actually have something positive to contribute, instead of a rude response that adds no value, and just adds to post count. 

Startup costs paid out of pocket should be recorded as capital contributions and may be deductible as startup expenses or amortized.

However, having a high-income earner with a spouse willing to qualify as a real estate professional is a well-documented strategy to save significantly on income taxes.

The only other options I can see are A) your mom partnering with you rather then selling the property to you - you become 50% owner and bring the funds and management to the rental while she provides the existing equity as her contribution; or B) your mom lending you the rehab cash out of her personal funds while also seller financing the house to you. 

Well-maintained homes: Homeowners tend to spend more time and money maintaining their homes, which contributes to the overall quality of the neighborhood.

For example, I have two STR high-income earners (making 140k & 150k) in Joshua Tree for sale with low expenses, where the sellers will stay on to manage it.Making sure you are keeping as much as possible from the tax man is a huge component and to do so you usually have to invest it.