Nothing you indicated is incorrect, but 1) If the F/F rule is enforced it will affect his ability to extract equity via a refinance. 

We long ago extracted all of our purchase costs.If I limited myself to 1% properties then I would not have purchased the property. 

With tools like Podio, data extraction is a nightmare. 

I would also not advise making your mother the manager and extracting a management fee.Another consideration is whether your grandmother has capacity to agree to all of this, or if a POA needs to be put in place.Best of luck.

Another way is to write a HTML parsing script to extract the data from Realtor.com which has the comprehensive listings. 

Richard Marshall You can refi prior to the 6 months but you can only extract up to the purchase price.

The fees are particularly expensive here in Canada and I will not touch it as an investor since its difficult to extract good cashflow from a condo, even the very affluent types in high income areas.

We just want to extract the money from the home to pay down some debts and make life a little easier for the next year.Banks are not an option.

Her daughter will be helping her apply for some sort of property tax relief which, they indicated, NY offers to the aged – not that this will help if she can’t pay it anyway.Also, the sense I got was that she hasn’t talked to the bank at all, though I assume they’ve tried to call her.Any other thoughts on what she could do to stay in the house and extract some equity to live on?

Sharpen your skill set & you will have many more ways to extract profit without paying for hard money.Hard money is difficult to sustain long term on an income property.