I'm pretty new to it myself, still figuring out how it works, which part of it I want to be involved with...I know one suggestion I hear a lot about is going to Real Estate Investment meetings/ Associations.

So, at a $429K sales price, she would be at $131K profit, not $150K, before calculating closing costs and other costs associated with the sale. 

Watch the condo fees and association competency. 

I would recommend checking with your landlord association, or state lobby for landlords to find out what the guidance is for for the amount allowed to be charged for early termination in your state. 

Add closing costs, renovation costs and other associated fees you're looking at around $40-50K for a single family or townhome valued at about $120,000 rented for $1,200.

I've contacted local leasing agents to pick their brains about average rent/sq ft rates and also to ask what their process is in finding tenants along with associated fees.

That being said, any family/friend/associate willing to capitalize on your hard-work and dedication contributions with them bringing funds to the table?

In other words, I understand I will become responsible for any outstanding debt(s) or payments due, such as association dues/debt liens/city violations etc; but is the original home loan also something I will become responsible for?

Biweekly mortgage ( P, interest,tax) $850, association fee $200/mo.

Biweekly mortgage ( P, interest,tax) $850, association fee $200/mo.