Account for costs associated with capital expenditures such as the condition of the roof, foundation, and HVAC.

So the partnership would be to split the down payment and other fees, redcue capital expenditure risk in the future, and we would like to do some work on the basement & backyard which is also going to cost capital.

There's a HOA you mentioned - so there will be HOA fees and every 5-10 years there will be a "special assessment" (this is equivalent to capital expenditures on a LTR type house). 

Also be aware as @John Underwood mentioned, you need to budget for repairs and capital expenditures.

If you purchased that last year, you are going to be negative more than the $2k/month you estimate when accounting for all expenditures using the numbers you provided.  

Tisch Center of Hospitality, has released a series of CapEx studies showing hotel capital expenditure spending has been half of pre-pandemic amounts in period 2020-2023.The impending debt crunch faced by commercial real estate over the next 18 months has also been widely reported. 

There are also strategies that can be put in place to mitigate unforeseen capital expenditure (capex) expenses.

I've reached out to a few property managers for comps and opinions for rent and expenditures in the meantime.

However, it's important to weigh this against the ongoing expenditure on your mom's rent.Options 2 and 3 involve reallocating your funds towards purchasing properties, potentially in high-appreciating markets like San Diego or Orlando.

They are ideal when a property requires significant value-add improvements and substantial capital expenditure.➡️ CMBS loans are securities backed by a bundle of commercial real estate loans.