That's my biggest concern.But I should also look at the tax and long term benefits.

I torn that thing to shreds a long time back: https://www.biggerpockets.com/blog/2015-05-06-2rule-die-horr...The 1% rule used to mostly work as a "pre-filter rule of thumb" as you say.

Starting small with a single-family rental or a duplex can give you experience without taking on too much risk.Real estate is a long game.

Sorry this is so long. 

Why Part of a Good Deal is Better Than 100% of No DealHey BiggerPockets Community,As real estate investors, we all want the perfect deal—the one where we control everything, make the most money, and have the best terms.

Yard signs, car magnets, and even business cards still go a long way.

While short-term rentals in areas like Kissimmee, Florida, can pay for themselves and offer lifestyle benefits, the ROI typically doesn’t match what I see from my traditional portfolio of long-term rentals in North Texas.That said, short-term rentals can still be a great choice, especially if you're drawn to the area and the opportunity to combine personal use with investment income.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

We estimate the project will take less than 3 months to complete.I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.Thank you in advance for your insights and assistance!

As long as you're willing to make sure you have good, quality properties, Section 8 can be a good way to go!