Not only is it a big let down, but it puts you into reactive mode, where you're looking for other people to dictate how your day will go and what you will do.Start your day by doing things that are good for you and good for your new business and that will get you into the right frame of mind.What works well for me is to find a podcast to listen to that is motivational.  

That will dictate what next steps you should consider.You mentioned you're approved for FHA, are you planning to house hack?

@Karen Thomas  my experience dictates that a no money down deal on multi happens for only a few reasons.1. ghetto property  just want to unload on the next victim2. wants to sell for far more than its worth give you the management headaches and be prepared to take it back if you falter.If you picked this one to mail to then you must think its not a ghetto dog with unmanageable tenants then my next thought would be the price will be far more than its really worth to a cash buyer.

You want to make a good decision and not let it be dictated by your current lease. 

Rent / 2 - debtService would dictate my HELOC pay down.   

The loan type that you would receive would dictate this rule.what's a good way to structure the deal fairly - this question is hard to answer since what "fair" might mean to me might be different to  you and your mom. 

So, if another, less expensive approach can be implemented, ethically and legally, it should be given serious consideration.Wisdom dictates having a reputable title attorney, or other real estate attorney, with an ethical, eagle eye, to review your offer & ratified contract to confirm that you can wholesale it.

The lease term of the agreement would dictate what happens to the deposit. 

The three property rule dictates you may identify up to 3 properties regardless of the value of the replacement.

Plus, once you verify the quality of the product and the trustworthiness of the people on that first investment, the whole 'trust' thing becomes a lot easier for subsequent investments with that provider.Sounds like your work schedule really does dictate that you go the turnkey route for now - and you're definitely not alone in that.