I desperately want to get into another nicer home in my new town, but I don't want to get killed by the upfront costs of a conventional loan.

I think it's okay to qualify prospective tenants but not find actual tenants until they've seen the specific property and agreed to the rents/terms.In my experience, tenants who are willing to lease a property from you without seeing the property and not even knowing the specifics are either desperate or very naive.Also be careful leasing to friends/acquaintances.

Don't rush into hiring one out of desperation short-term and actually make your problems worse long-term.Also, if you hire a PMC and you happen to be working on the property, do NOT tell the tenants you are the owner!

She is motivated and desperate to sell and I would like to take this opportunity to buy it.

When entrepreneurs and capitalists create value, they enrich themselves and the economy in which they participate.Example: "Builder Bob" builds an apartment building of 10 apartments in Portland which is desperate for more housing.

Just find a good mentor to shadow, someone willing to impart from his/her experience, take them to lunch and make yourself useful to them, and they will teach you.Bonus for the weekend, my collection for starters (read the comments too, and then if you like the author, go check out what else they wrote):- https://www.biggerpockets.com/renewsblog/stages-of-investing/- https://www.biggerpockets.com/renewsblog/newbies-learn-real-estate-investing/- https://www.biggerpockets.com/renewsblog/5-ways-to-know-youre-not-ready-to-invest/- https://www.biggerpockets.com/renewsblog/ideal-vs-desperate-investor/- https://www.biggerpockets.com/renewsblog/how-much-to-offer-property/- https://www.biggerpockets.com/renewsblog/hazardous-attitudes-of-investors/- https://www.biggerpockets.com/renewsblog/2016/05/31/21-traits-scammy-real-estate-investment-guru/- https://www.biggerpockets.com/renewsblog/youre-not-cut-out-to-be-real-estate-investor/- https://www.biggerpockets.com/renewsblog/questions-new-investors-should-ask/If that's not enough, ping me and I'll give you a collection of blogs and podcasts to follow.

Desperation does not lead to good decisions.

With all of the muni's here around Albany desperately trying to attract investment, I'd be pretty shocked if they did, but it could happen.

Obviously you are desperate for a tenant otherwise it is a given that my advice would be to pass on this applicant.

I love the other side of this business (buying), and when investors see it they're gonna see dollar signs, throw us a low ball offer and hope we are desperate enough to get rid of it.