That being said, the structure will matter, especially if any Pref or cashflows to you are being structured as a return of capital vs distribution vs something else.

Your wife as conservator/guardian has an obligation to her mother and selling the property to herself creates a conflict of interest in that she stands to benefit as the buyer and is also making decisions for someone else as the seller.2.

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

What else could cause it?

We'd prefer not to have anyone else on the loan - just my son. 

The cheaper property managers with the monthly fee are making it up somewhere else. 

I tell the tenant I need an address to return the deposit to and nothing else and I've always gotten an address. 

It only takes about 30 seconds to look this up.I highly recommend verifying this information yourself rather than relying on the seller, broker, or anyone else.

Something else to consider - I'd recommend starting with more of a turnkey investment property for your first one if possible unless you have experience in working on houses.  

As everybody else stated review your basic protection with P&C and umbrella coverage and run your rentals like a business, easier said than done.