I have great credit but limited capital.

If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit. 

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

Every time we're preparing for a new administration, there's plenty of tax-related noise.

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

If tenant raises factual defenses such as falsifying the lease or claiming they paid rent, there would be a brief trial which you would be prepared to testify against. 

It would be like if someone prepared to sell by painting to create fresh visual interest, but chose fuscia and lime green...those colors would certainly catch the eye but I'd never claim that they overdid the curb appeal by painting with too much visual interest.

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

. :)  these are not credit score loans ( I mean I have a credit score) but thats just a formality its all about capital and relationships with your bankers and deposit relationships thats key as well.Yes your relationships with sub contractors will be a huge factor in profitability, both direct and indirect. 

At least 2 US credit scores required to qualify.