The key is really, liked you mentioned, finding a deal with enough equity that you are not in trouble should the loan be called due (or have money set aside to cover that).Have you heard or the lender giving you a chance to continue on in the original borrower's stead if you can prove good credit and show payment history?

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This will give you a trade line history and boost your credit. 

Learn what the current market bears for a loan product for a borrower with your profile - exp, credit history.  

So they will do a soft pull or hard pull on your credit, they will look at your credit history and also your b.g.All that matters is the cash you have on hand, not what you make per year.I start new investors every year. 

I have two other homes that I do rent out as well, and another property that I used to and then sold after STR with nice returns and nice appreciation -  so there is plenty of history. 

Fractional Banking - Definition, How it Works, History (corporatefinanceinstitute.com)

Start by looking at properties sold within a mile of the property, and through the photos, description, and history, you can tell it's a flip.

Should the lease be signed by both the mother and daughter as joint tenants?

You can possibly get around this with 12 months of operating history on a DSCR loan.