Keep it as simple as possible and be patient with everything.pDo not listen to those that do not have real estate experience.  

@James FloydThere are some other options besides short sale and foreclosure.Two would be either a cram down or mortgage satisfaction.1. 

HEALTH & SAFETY CODE §533.004: Perfected MHMR lien has no limitation.Mental Health and Mental Retardation Lien secures recoupment of the cost of providing support, maintenance, and treatment to patients in a Texas Department of Mental Health & Mental Retardation facility.When statutory notice is filed in the County Clerk’s Office where the obligor’s real estate is located, a lien attaches to the non-exempt property of the patient or person legally responsible for the patient’s support.Mechanic’s Liens: Voluntary TEX.

Be patient, it may take hours of office waiting and a lot of unreturned phone calls, be ready for general unresponsiveness.

Be patient.

As to using it as a mother-daughter, I tried renting to someone with a home based business, looked at folks living with their parents, therapists needing a home office to see patients etc.

I'm not in a position to tell anyone what to do but we are doing our best to be patient.

The issue is that you would have to be patient and willing to hold it for long enough to participate in the appreciation.

Yes it can be hard to find good deals on the MLS .. they pop up from time to time but just have to be patient!

Truly, if high rent relative to the purchase, and a patient timeline of 7-10 years is your metric for success, you are better matched for D to C- neighborhoods that are on a slow but true path of progress.