Two bed one bath preside duplex, and both sides are being rented out for 375 each with tenants pay utilities.

Originally posted by @Nick B.:@Ed

The duplexes are 2 bed 1 bath, no garage.

The merits of financed versus cash investing have been discussed to death here.

If you are true partners and upon success, intend to repeat this, you should form an entity together with an operating agreement that spells out each and every soecific item (responsibilities, tasks, money, what happens in case if death, etc. as far as thevowner carried financing, have your attorney draft up a note and deed of trust.

In the last few years, and continuing now, many new apartment developments are coming online that are focused on students that seem more like resorts than the apartments that I was familiar with...they have amenities like huge pools, lazy rivers, tanning beds, game rooms, full gyms, etc.  

I'll second what both @Natalie Vane and @Paul Caputo said, with a further note that these two strategies can be combined to great effect.Natalie is correct that if your mother keeps the property until she dies, and leaves it to you in her will or trust, then the tax basis resets to the current market value at the time of her death.

On my local MLS I see multiple 4 unit (2 bed 1 bath) properties at approximately $100k asking price that rent for $500+ per unit or $2,000+ total.

I am also open to other ideas, not stuck on owner financing as I am able to qualify for conventional, FHA, etc…The house is in decent condition but has some deferred mx and needs updating (kitchen, bathrooms, flooring, 400sq ft deck, etc…). 3 bed, 1 bathARV: $600,000Needed Repairs: Approx - $70,000Acquisition Cost: Approx - $450,000Amount owed on mortgage: $75,000

We represented a seller whose student tenants had 6 beds in a small 2 bedroom house (they were quite creative).It seems that students are struggling to find housing no matter what is happening with the economy.