Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

So I found and purchased 3 undervalued properties from wholesalers and we are just finishing up the 3rd one.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

@Mike ReynoldsSeller financing is allowable for Solo 401k purchases.

Did you investigate the history of heating costs before purchase?

I think it helps flippers as it is easy to find the purchase pricesp versus selling price.  

I've helped a lot of investors in your area, and I find that many of them end up purchasing rentals in the Central Valley for the very reason you mentioned.  

Assuming a 340k purchase price that would be 34,750 out of pocket.   

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.