You'll still have plenty of money to do a duplex/quadplex and give you breathing room (what would you do if you needed a large repair on the rental?).

Will this be a good investment time and money wise?

You get money at closing and then you refinance when rates go down.Anyone done this before?

No, they don't want us to lose money, they just want to make sure we make no money!

Some trash companies have a service for an extra charge where they will wheel it out to the curb, because handicapped and the elderly often can’t do it.

The deal has to make sense and you really need to know the comps to make sure your investment is going to actually make money.

What you’re suggesting is not cash flow, it’s return of principle, giving her her own money back  If she sells with your deal.

I would never put my money into a shrinking population base. 

Not sure if that is the case for you or if you are worried about burnout but if not, I would continue making extra as a nurse which will help with getting you approved based on income for future homes. 

For now I would not waste the money if you are not renting it out.