I am not a property investor, but have friends who are, and they have told me stories of ruptures within their families because of inter-family rentals gone wrong.Adding to the mix is the fact that my mother, the owner of the property, is elderly and in poor health.

I had been in talks with a rehabber in my area who uses hard money lenders to fund his projects and we were to be doing a fix and flip this month, so I went ahead and got myself a $10k loan to throw into the mix to cover carrying costs.

Sounds like you've been getting in the mix, which is hands down the most important step in becoming successful with REI.

This will be my 3rd rental investment property (mix of long and short term rentals).  

Mixed-use buildings are pretty particular with city planning, are there other similar projects already existing on your street?

That being said, mixing business with family and friends, not something I am a big fan of. 

I know of a 325 unit that just sold for 96 MM a few weeks ago in Northern Los Angeles so there is still a lot of movement just have to know where you belong in the mix. 

I may have to look at mixing it up with flipping 3 and renting two or something of that nature.  

If you add financing into that mix...well...it becomes a bad deal from the get-go.

Some do large apartments, restaurants, mixed use, office buildings, ect.