For example, I'm getting the names and addresses from the county role or the title company so the taxes are mailed there.Do you think it makes sense to use a "generic name" e.g. mail to "Home Owner" or "Resident" at that same address to get the mail sent to whom ever lives there?

As we expand to more properties we may expand her role into management as well, or work with a VR management company.  

My son is a recent graduate earning his BA in Exercise Science and a minor in Biology.

I have no buyers list and/or no local mentor at this point as I haven't had a chance to work on those particular areas yet.I suggested owner financing or subject to, both which she stated she was not willing to do as she wanted to sell it to her daughter and didn't want to hold the liability of a subject to, and doesn't want to assume the role of "bank."

I did some research an came across asset based lending an reached out to a lender an he stated that your Fico score dosent play a role.

I was thinking I should exercise my option, and get a sale agreement contract on it with 6 months to close.

If you are in the option period, you can always exercise the option if you are not confident that the property is what you were looking for. 

Has the college student exercised the purchase option?  

home a few years later for $250,000.This leads me back to your main point- the role of property taxes in forming a bubble.

Hint: getting some PM experience is recommended to start your REI career, but to scale, you want to work your way out of the PM role and focus on higher value-add opportunities such as finding great deals.