We were initially looking to flip homes, which would potentially bring higher immediate cash returns for her enjoyment in her later years, however I’ve been researching the brrrr method as well to generate cash flow without the stress that flip process may cause her.

As long as you have reliable "boots on the ground" such as a property manager or real estate agent that has experience working with out of state investors, you'll significantly increase your chances of acquiring the right property that will generate the returns you're looking for. 

Both parents were immigrants, I owned a small business that I worked hard at, saved up my money and invested it.Actually most millionaires in this country are first generation.

Confused because DSCR by nature looks at the income the property is generating and not your personal income or credit I believe. 

To be clear, I'm thinking I would do the above for several years while building my portfolio and learning, and then solely focus on my portfolio once I'm established and am generating enough income to live off of.

We actually rented the unit back to the existing tenants for as long as they wanted to stay because we didn’t have to do anything to the unit to start generating income.  

Generating scripts and building a database?

We use Rentec Direct and really love it.It collects our rent, applies late fees, deposits our rents in our bank account, tracks expenses, screens our tenants, markets our properties, generates forms we can send out for docusigning by our tenants, tracks leases, and much more.  

The expectations of the investors—if the investors thought they were investing in a business to generate a profit on their investment, the note is more likely to be found a security.4.

I think I have to pay $$$ if a lawyer generates the forms so I don't want to do that.