Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

I'm still here trying to help people and that includes you (if you are open to it). 

Of course your other debts including student loans go into the mix to come up with your total debt to income but the income needed  is a lot smaller then a lot of borrowers in your situation tend to  think.  

Purchase price: $900,000 Cash invested: $15,000 6BB/3.5Bath 4000sf on 3.4 acres near several wedding venues.

My mother-in-law wants to help my husband and I on our first real estate investment purchase. 

The more that you talk the more potential buyers see what they are dealing with.Lori you purchased a property that was occupied.

My team and I are also out-of-state investors, including a managing partner who was born and raised in Toronto.We’ve been investing in Cleveland for a little over a year now and currently own 22 units in the area.

Washer/dryers are often abused, so there's the initial cost of purchase and the risk of increased repairs.

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

Just curious, what did you end up purchasing after and why?