If you are using it to buy a turnkey property which needs to produce cash flow to be considered a viable deal how does buying turnkey(Little to no cash flow) combined with HML(High interest only debt) make alot of sense financially? 

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

While I doubt I'll be investing here (terrified that property taxes and the pension debt will ultimately cripple property values), I'm always interested in meeting new people.

Her mother is willing to (co-sign) and has excellent credit and debt to income ratio that will more than allow but I’m not sure the best way to structure this for the house to still be in our name?  

This is a buy and hold in a great location in a great market Does anyone know of a group i can post this deal And last option we were considering was to use her cards to pay off my debt so then I can buy the house from her and get a loan on it If u made it this far thanks 🙂

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Incurring debt before you have sufficient earnings to support that debt.

Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.

I’ve taken care of all my debt and am pre-approved for roughly $220,000.

Making the wrong hire, overlooking the risks, taking on too much debt.