As the success of PHX continues, Tucson will follow suit. 

Freddie has a reno loan product that can be used for investment properties; this is only for first position, though.For the Heloc - it goes back to whether your mom wants to continue carrying the loan for income, and if so, how will you pay off the heloc once the rehab is complete?

Financial freedom isn't simply about replacing your current income, because inflation continuously drives up prices, making a fixed income insufficient to maintain your standard of living.

Its all a learning process. if they can continue to pivot and make adjustments, when necessary, they will do wonderful.

The more time you spend talking about other options and try to build up the negatives, the less time you are spending on what you fell are the positives of your own idea.If you believe that you are onto a great idea using L2P option contracts and forming partnerships where someone else provides 100% of the money while you provide 100% of the real estate-related functions, then start it up and make it work.  

Rent growth is a function of supply, demand, and interest rates:- I'd ground any forecast by stating I expect national rents to rise on a pace more or less in line with inflation over any long time period. 2-3% per year.

To be continued...

I have had houses that I love and want to continue to own.

As we continued to scale, we eventually added a positions to start taking some of my wife's responsibilities. 

Best wishes as you continue on your journey.