My girlfriend and I are travel nurses and currently working in San Francisco.  

Hello BP.My mother will be a co borrower on my next property.

In my pretend case, being an LLC electing partnership treatment is the best bet, but that doesnt mean its the final answer for you and your mother. 

The Upset sale runs annually every September and after talking to my mothers landlord, surprisingly the majority of them attend these auctions!

Im going to stay part time ill still make a decent base pay and my wife makes more money then me and we were currently living at her mother house to save money wo were in a great situation.

We want to build a relationship with the seller as he and his mother will be looking to get out of the game in the future and it would provide us the opportunity to purchase his investment properties prior to them hitting the market. 

Although I have not had any experience in this situation, I have heard of far too similar horror stories from my mother, who has been a public housing district manager in southeast, washington, dc for the last 30 years.Good luck to you and your tenants!

However, I know a guy that was able to quit his nursing job after getting a few good properties from investing in WV tax liens.

You need to assign an appropriate value to the assets, keeping in mind the capital you will need to inject in order to breath life into the business and nurse it back to a point where it is carrying itself {or better}.  

We live in NJ.The home is big 6 bdrms 2.5 bh ranch on double lot, mother & daughter 2100 sqft.