Many judges would feel you got paid even if no cash was sent to you.I could see this potentially working on a higher-end property that it in excellent condition with a Grade A tenant.  

A friend of mine had a similar journey - they turned their old home into a rental property and soon realized they loved managing tenants and exploring ways to add value.

I like using these for just this case.Another item to consider is since this is a 2nd floor I wouldn't be that worried since the 1st floor will heat the 2nd floor enough to not allow frozen pipes.I would also talk to an HVAC person because I believe they can also put a device to cycle the heat a few times a day or even put a secondary thermostat in the apt to take care of the minimum issues.I feel for you because otherwise you have a great tenant.

You need to find a zip code where land values are 10% of less of after built value.

- How much do you value your free time?

@Jason Burkart To maximize tax benefits, consider buying the property as a rental and leasing it to your mother at fair market value (FMV).

Finding some sort of value-add aspect or buying at a discount means you either create or walk into equity, which protects you.

@Edward Toomey V I feel like this is a frustration for us all in the property management game.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

On a commercial asset the value is directly based on the NOI (net operating income).