I’d suggest focusing on securing solid DSCR loans—like those from thelender.com, which lends up to 80% LTV, considers STR income, and operates as a direct lender.

I also suspect the vast majority of lenders will take exception to your mom being the 1st position lien (look up strategic default).

Also, consider financing strategies that allow you to maximize leverage instead of tying up all your HELOC funds in one deal.If you want to run numbers on different financing options, let me know.

Some tenants ask up front if I'm going to charge them an application fee.

He actually already locked up a subto deal and is looking for a buyer to help the family avoid foreclosure since they are in a bind.

Understand the neighborhood and understand what makes a house go up in value and what just makes a house livable. 

With this set up, the turn-key provider can walk with you through this process and help advise you on decisions, which can be extremely beneficial being your first investment property or your 100th property.

Very Simple @Jaren Taylor.You need an SEC attorney that specializes in Syndicates  and more than likely a transaction attorney to set these up for you. 

Outsource tasks like admin work or cold calling to virtual assistants (VAs) to free up your time for more important tasks.3.

Buy and holds is the key to true wealth with all the benefits of depreciation, appreciation, loan pay down by your tenants, leveraging the equity, cash-flow etc etc, but it often times isn't the active income that pays the bills until you build up a portfolio and even then there's the tenant management or managing your property managers.That's why I'm involved in all 3.