There are alternative qualifiers like - Alt Doc - 12- or 24-months bank statements.

The two contractors and property manager would be a natural start.The pm definitely, and likely the contractors too, should be well connected with local investors.Once you give up equity, you will not get it back.

It is commercial in nature.

Many things to check for on title Such as a second mortgage HOA and things of that nature people may overlook or the seller may not mention. 

In most of CT, I would go into any investment with no expectation of natural appreciation.

I was thinking what would be the alternate solution for her.

There are possible alternatives which would allow to you use these funds without paying taxes or penalties.First, you may wish to consider transferring the funds to a self-directed 401k or IRA which will allow you to invest in real estate without incurring taxes or penalties.

My alternative is asset-based lending and going down the route you talk of with no inspection contingency which means my offer needs to reflect that risk.

What are other turnkey companies for a newbie? Thanks!

Naturally I had a title report pulled and it was clean.