@Steve S., Lots of moving parts to your scenario. 

Let me put that another way: if they were presenting on the CNBC show "Shark Tank" what would they be offering as a financial return for my investment and over what period of time?

Hi BP Sharks!

I am interested in starting to look for small multi-family (2-4 units) with a business partner who hasn't used any of his conventional loan slots.

sounds like you have dealt with all the sharks.. if it takes a really long time to evict someone in that state your best bet maybe to let it go to foreclosure and if it bids up which it could if your buyers are already offering you whats owed. they would not do that if there was not equity above whats owed. your mom would get the overage as long as there is not junior debt.also since her credit is trashed and if you can handle her housing.. she can just stay as long as possible until she gets evicted and then just walk out the door..

Hi guys,I ran out of conventional loan slots.

Back in 2016 and even as recent as summer of 2017, I seen probably 1.5 more or perhaps even double the houses that are on the market now, especially in hot areasTake all of 30314 and parts of 30318 for example, in 2016 there were lots of homes on the market being sold anywhere from the 60k-110k price points...duplexes, turnkey SFHs, 2 and 3 story homes,  SFHs with over 2k sq ft, just about everything...sure they needed work but the bones for most of the homes were decent and with maybe 15k-30k of work, you would have a home that could be priced in the 300ks in the next two or so years.Now, I see maybe 1 or 2 of those in 30314 under the 180k price point that hit the market per month, and then those homes are fought over like sharks over sardines.

If I buy one more house it will be my last slot, so I was hoping to consolidate.

@Manny S. - lots of people will want to sell you.

I have been lurking for quite some time, and it seems that the "we are all sharks, let's have a blast!"