A couple great co-living options is STR by the room, Student housing, sober living, Senior care... 

One thing to consider on the credit card option is that a lot of contractors don’t accept them so that could be an issue.

An option is an encumbrance, buy the property subject to the option at a lower price, if the optionee buys, you sell, if not, you still win.A deed in lieu of foreclosure can be had after the note is purchased at a discount.You can buy the note at a discount and have the owner refinance, same with installment contracts. 

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.  

This is a buy and hold in a great location in a great market Does anyone know of a group i can post this deal And last option we were considering was to use her cards to pay off my debt so then I can buy the house from her and get a loan on it If u made it this far thanks 🙂

It’s more about offering a different option for owners who need capital, and offering investors to access the world of real estate investing fast and smart, like never before. 

@James Tobin  yes FHA will be a very low downpayment option for you.

If maintaining cash flow is your primary objective, you might want to explore other options.

Question 2: if homes upside down on mortgage what are my options?

The way I see it, I have 2 options: 1) inform her of her responsibility to turn on the heat or be liable for any damages caused by the cold weather or 2) turn on the heat myself.