The biggest gamble in this game is knowing the value of this prime real estate, understanding the cities objectives to convert the blighted area back to what it once was and should become again in the future.

We are still in early assessment and havent really compared places to places.. not quite sure whether cities like Lowell will be a gamble over some saturated markets like Medford / Somerville.... 

My cross border lawyer here in Canada also suggested an Limited partnership (LP). however, I have questions about how to set it up so that lending is not an issue? 

White Center is one of the final neighborhoods with a Seattle addres that still borders on affordable.

However, I foresee two problems with this; The loan could be called once you change title and, if you're mom ever starts binge drinking or gambling, there is no stopping her from writing checks against that HELOC and pulling more money out up to the limit.

The Lottery or many ways of gambling come to mind here. 

You contract to buy with a down payment then pay an annuity to the seller for the sellers life, the seller stay in the property like a life estate. when the seller dies ,the property is then yours, Your gambling on the life of the seller.

sounds dumb but if they truly only owe low 90s offer them 145,000 let title ferret out any other issues otherwise I would pursue this as fast as you can provided your intel is good,  otherwise very little cost to you and you would have control over property, or if you want to really gamble buy the note from bank foreclose the current bower flush all debt. except taxes and some municipal liens and enjoy

The numbers in many unrealistic pro formas (those that aren't bordering on fraudulent) are technically accurate at the time of the listing;  however, since vacancies will occur at every property and maintenance will be needed for every property the pro forma numbers may not be accurate for very long. 

It is a lot of money and time to spend to be somewhere you do not want to be.Are you so passionate about the Investment world, that you are willing to gamble the security a degree may provide?